How does consensus work on this platform and what consensus algorithms are used by it?
The Internet Computer is a blockchain-based platform that enables developers to build and deploy decentralized applications (dApps) and services without the need for traditional cloud infrastructure.
It uses a consensus algorithm called Tendermint, which is based on the Byzantine Fault Tolerance (BFT) consensus protocol. This protocol allows for a distributed network of computers to reach consensus on the state of the blockchain, without relying on a single point of failure. Tendermint works by having each node in the network vote on each block that is proposed by a validator.
The validator with the most votes will be chosen to create the next block in the chain. This voting process is repeated until all nodes in the network have agreed upon a single version of the blockchain. Once this agreement has been reached, it is considered to be immutable and cannot be changed or reversed.
In addition to Tendermint, Internet Computer also uses Proof-of-Stake (PoS) consensus algorithms to secure its network. PoS algorithms require users to stake their tokens in order to participate in consensus and validate transactions on the network. This ensures that malicious actors are not able to gain control of more than 51% of the network’s computing power, which would allow them to rewrite history or double spend coins.
