Consensus Mechanisms for the Blockchain

Joshua S. Gans; Neil Gandal

doi:10.1007/978-3-030-65117-6_11

Consensus Mechanisms for the Blockchain

Joshua S. Gans, Neil Gandal

School of Economics

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

In this chapter, we discuss the fundamental elements of the design of the blockchain. We then examine the equilibrium properties of consensus mechanisms for the blockchain under both proof of work and proof of stake when the blockchain is permissionless, i.e., when there is free entry into becoming a node

Original language	English
Title of host publication	The Palgrave Handbook of Technological Finance
Editors	Raghavendra Rau, Robert Wardrop, Luigi Zingales
Place of Publication	Cham
Publisher	Palgrave Macmillan
Pages	269-286
Number of pages	18
ISBN (Electronic)	9783030651176
ISBN (Print)	9783030651169
DOIs	https://doi.org/10.1007/978-3-030-65117-6_11
State	Published - 2021

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10.1007/978-3-030-65117-6_11

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Consensus Mechanisms for the Blockchain

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