Byzantine Fault
By CoinGecko | Updated on Mar 03, 2020
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
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Hard Fork
It is a permanent divergence of a blockchain into two blockhains. The original blockchain does not recognize the new version.
Kimchi Premium
The kimchi premium is the price difference between South Korean exchanges and other global exchanges for bitcoin.
InterPlanetary File System (IPFS)
The InterPlanetary File System (IPFS) is a peer-to-peer network and distributed file system protocol for storing and transferring data.
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