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Blockchain consensus misconception - how miners create blocks?

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Jul 2, 2022
9:05

Some people think that blockchain "consensus" protocol is about collective decision making in the network - how miners create blocks? That the majority (51%) of nodes agree about the validity of each blockchain. No blockchain consensus has nothing to do with agreements in the network. Each node acts upon pre-designed rules and does not transmit its decisions. Moreso, each node is independent and cannot dump even a valid block receiving from anythor. Why? You would the node do it, you will learn in this video. 0:00 | Intro 0:32 | Nodes act independently 1:06 | How blockchain consensus works 3:11 | Rule of the longest chain 4:02 | 51% majority 5:04 | hardfork See next: Checkpoints on Blockchain https://youtu.be/mu6D2H3PhJs The DAO crisis https://youtu.be/Qz9L5wxsaSw

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Blockchain consensus misconception - how miners create blocks? | NatokHD