Definition of Byzantine Fault

A byzantine fault is where an error has occured, yet a computer system does not know due which component/what failed to the lack of information and continues to iterate on a given instruction. An example of a byzantine fault tolerant distributed computing system that accounts this is the Bitcoin blockchain which utilizes the Proof-of-Work system to achieve consensus on the blockchain.

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Related Terms

Derivatives

A financial instrument which derives its value from the performance of an underlying asset or index (eg. gold, crude oil)

Proof-of-Burn (PoB)

A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.

Watchlist

A personally defined list of values to watch over for activity or changes.

Side Chain

A separate blockchain ledger that runs parallel with the primary blockchain.

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