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Nakamoto consensus

Overview#

Nakamoto consensus is the Consensus Algorithm used within the Bitcoin Blockchain

On the Cryptography mailing list, Satoshi claimed that the Proof-of-Work chain is a solution to the Byzantine Generals Problem.

Satoshi’s proposed solution to the BGP has since come to be known as ‘Nakamoto consensus’which is the following summarized protocol:

  • Always use the longest history.
  • Appending a block to any history requires a proof that a certain amount of work – proportional in expectation to the total ‘capability’ of the network – has been completed.

More Information#

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