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

^*Corresponding author for this work

School of Economics

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

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.,

Original language	English
Title of host publication	The Palgrave Handbook of Technological Finance
Publisher	Springer International Publishing
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 - 1 Jan 2021

Keywords

Blockchain
Consensus Mechanisms
Permissionless
Proof of Stake
Proof of Work

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

Cite this

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Consensus Mechanisms for the Blockchain

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Keywords

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