Might the Chinese government reconsider its stance against cryptocurrencies? The country’s National Development and Reform Commission (NDRC) recently published a report seeking public opinion on the matter. Despite multiple bans on Bitcoin over 8 years, the Chinese government may have the motivation to not completely reject its adoption. China Consults The Public The commission published its report to its website under the “Soliciting Opinions” (translated) category earlier today. It states that major departments have revised one of its regulatory catalogs…
Tag: Consensus Mechanism
Avalanche Consensus: Everything You Need to Know About it
A consensus protocol is the core of the blockchain network. Since the blockchain network is decentralized and works without third parties, a consensus protocol plays decision-making. Before data can be stored in the system's blocks, it needs to be correct and without conflict. The system requires participants (validators) to authenticate transactions with the help of virtual machines. Once each validator gives their verdict on each transaction, the system converges the data and decides on the most appropriate and agreeable opinion—a…
1 year ago
