Distrust on blockchain

👁As we know, there is no central server on blockchain which means that users themselves have to add and verify information. At the same time, each participant can pursue their personal interests to the detriment of the security of blockchain.

🔢Hence, the problem of participants’ distrust of each other arises. Mathematical algorithms are used to solve it.

👩🏻‍⚖️ To resolve controversial issues, you need to choose the users who will check transactions and add only the correct ones. Such users are called miners.

🔎 Miners are blockchain participants who are engaged in creating new blocks and verifying transactions.

🤝To organize the correct work of miners, it is necessary to agree who they will be and how they will perform their work. At the same time, you need to come up with such rules that it will be more profitable for miners to follow than to violate them.

🧐This is a classic example of a problem from game theory: how to choose a strategy that will be equally advantageous for participants with different interests.

Such a problem (the Problem of the Byzantine generals) was formulated and solved by mathematicians in the last century. Now this solution provides security both in the blockchain and in other complex technologies.

The solution to this problem is the ability of the network to continue working even if some of the nodes have failed or are acting maliciously.

🧑🏻‍🚀Byzantine fault tolerance is sometimes necessary in aircraft engine systems, in nuclear power plants, and in almost any system whose actions depend on the results of a large number of sensors. Even SpaceX considers it as a requirement for its systems.

👨🏻‍🔧If this task is applied to the blockchain, then the generals are miners. They must agree and recognize the transaction as valid so that it gets into the blockchain. This process is called consensus building.

🤝Since the Task of the Byzantine Generals has several solutions, different blockchains achieve Byzantine fault tolerance using different consensus algorithms.

Decimal helps communities to issue and manage blockchain assets.