written to the ledger, the appropriate funds change hands automatically when the item is received. Consensus The process of keeping the ledger transactions synchronized across the network – to ensure that update with the same transactions in the same order – is called consensus. We’ll learn a lot more about ledgers, smart contracts and consensus later. For now, it’s enough to think of a blockchain as a shared updated via smart contracts and kept consistently synchronized through a collaborative process called consensus. Why is a Blockchain useful? Today’s Systems of Record The transactional networks of today are

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations

nodes each maintain a copy of the ledger by applying transactions that have been validated by a consensus protocol, grouped into blocks that include a hash that bind each block to the preceding block. disputes. One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations such as that, a crash fault-tolerant (CFT) consensus protocol might be more