Blockchain Needs a Superior Consensus Mechanism

The core purpose of a consensus mechanism is always the same: it is there to provide proof of something, to ensure that all network nodes can agree on the true and valid state of the blockchain. This is how malicious attacks on the network are avoided. Without it, there could be no value in crypto.

In blockchain, it is the public who, by and large, verify and time stamp transactions. Once data is validated by participating users, or nodes, the transaction is added to a block which is permanently written onto the blockchain.

The new block is linked to the previous block and broadcasted to the entire network thereby achieving consensus: every node’s copy of the blockchain will be identical.

However, different consensus algorithms tend to face a similar problem; they struggle to guarantee both liveness and safety. There is not yet a solution that conclusively ensures ‘something good eventually happens’ at…