-
Notifications
You must be signed in to change notification settings - Fork 384
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.
Users | Developers | License | Copyright © 2011-2024 libbitcoin developers
- Home
- manifesto
- libbitcoin.info
- Libbitcoin Institute
- Freenode (IRC)
- Mailing List
- Slack Channel
- Build Libbitcoin
- Comprehensive Overview
- Developer Documentation
- Tutorials (aaronjaramillo)
- Bitcoin Unraveled
-
Cryptoeconomics
- Foreword by Amir Taaki
- Value Proposition
- Axiom of Resistance
- Money Taxonomy
- Pure Bank
- Production and Consumption
- Labor and Leisure
- Custodial Risk Principle
- Dedicated Cost Principle
- Depreciation Principle
- Expression Principle
- Inflation Principle
- Other Means Principle
- Patent Resistance Principle
- Risk Sharing Principle
- Reservation Principle
- Scalability Principle
- Subjective Inflation Principle
- Consolidation Principle
- Fragmentation Principle
- Permissionless Principle
- Public Data Principle
- Social Network Principle
- State Banking Principle
- Substitution Principle
- Cryptodynamic Principles
- Censorship Resistance Property
- Consensus Property
- Stability Property
- Utility Threshold Property
- Zero Sum Property
- Threat Level Paradox
- Miner Business Model
- Qualitative Security Model
- Proximity Premium Flaw
- Variance Discount Flaw
- Centralization Risk
- Pooling Pressure Risk
- ASIC Monopoly Fallacy
- Auditability Fallacy
- Balance of Power Fallacy
- Blockchain Fallacy
- Byproduct Mining Fallacy
- Causation Fallacy
- Cockroach Fallacy
- Credit Expansion Fallacy
- Debt Loop Fallacy
- Decoupled Mining Fallacy
- Dumping Fallacy
- Empty Block Fallacy
- Energy Exhaustion Fallacy
- Energy Store Fallacy
- Energy Waste Fallacy
- Fee Recovery Fallacy
- Genetic Purity Fallacy
- Full Reserve Fallacy
- Halving Fallacy
- Hoarding Fallacy
- Hybrid Mining Fallacy
- Ideal Money Fallacy
- Impotent Mining Fallacy
- Inflation Fallacy
- Inflationary Quality Fallacy
- Jurisdictional Arbitrage Fallacy
- Lunar Fallacy
- Network Effect Fallacy
- Prisoner's Dilemma Fallacy
- Private Key Fallacy
- Proof of Cost Fallacy
- Proof of Memory Façade
- Proof of Stake Fallacy
- Proof of Work Fallacy
- Regression Fallacy
- Relay Fallacy
- Replay Protection Fallacy
- Reserve Currency Fallacy
- Risk Free Return Fallacy
- Scarcity Fallacy
- Selfish Mining Fallacy
- Side Fee Fallacy
- Split Credit Expansion Fallacy
- Stock to Flow Fallacy
- Thin Air Fallacy
- Time Preference Fallacy
- Unlendable Money Fallacy
- Fedcoin Objectives
- Hearn Error
- Collectible Tautology
- Price Estimation
- Savings Relation
- Speculative Consumption
- Spam Misnomer
- Efficiency Paradox
- Split Speculator Dilemma
- Bitcoin Labels
- Brand Arrogation
- Reserve Definition
- Maximalism Definition
- Shitcoin Definition
- Glossary
- Console Applications
- Development Libraries
- Maintainer Information
- Miscellaneous Articles