Consensus Mechanisms for the Blockchain

Joshua S. Gans, Neil Gandal

Research output: Chapter in Book/Report/Conference proceedingChapter


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 languageEnglish
Title of host publicationThe Palgrave Handbook of Technological Finance
EditorsRaghavendra Rau, Robert Wardrop, Luigi Zingales
Place of PublicationCham
PublisherPalgrave Macmillan
Number of pages18
ISBN (Electronic)9783030651176
ISBN (Print)9783030651169
StatePublished - 2021


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