Skip to content

Consensus Property

parsevalbtc edited this page Sep 20, 2021 · 9 revisions

People generally think of consensus in the context of a fixed membership, like a jury. In this model consensus implies that all members must agree. But because Bitcoin membership is permissionless and therefore not fixed, there is always complete agreement, as implied by membership. In this model consensus refers to the size of the membership (economy), not a condition of agreement.

A consensus may fragment or consolidate. Generally a larger consensus provides greater utility and greater security by more broadly sharing risk.

Libbitcoin Menu

Clone this wiki locally