Crypto Terms:
Letter B
What is Byzantine Fault Tolerance (BFT)?
Meaning:
Byzantine Fault Tolerance (BFT) -
the property of computer systems making them able to reach consensus ignoring the failure of some of their components.
Let's find out Byzantine Fault Tolerance (BFT) meaning, definition in crypto, what is Byzantine Fault Tolerance (BFT), and all other detailed facts.
The Byzantine Fault Tolerance (BFT) is a property notable in computer systems that makes them able to reach a consensus consistently regardless of whether some of the system nodes disagree with the consensus.
The Byzantine Generals’ Problem is a game theory concept used to show the problems of achieving consensus that are common in computer systems.
The hypothetical scenario presents the idea of several Byzantine generals planning to attack a fortress. All generals communicate with each other solely through messengers. They must all collectively decide whether they should attack or retreat.
Some of the generals are secretly traitors who could potentially sabotage any attempts to reach a consensus. The question follows: is it possible to establish a system that would ensure the loyal generals agree on the same plan regardless of whether it is known which generals are traitors?
The resolution has been reached stating that it would be possible, so long as more than two-thirds of the generals are loyal.
Technical solutions like the Proof-of-Work consensus mechanism employed by Bitcoin (BTC) show how this can be achieved in practice, proving that as long as more than two-thirds of the nodes are loyal to the system, a computer system can reach consensus.
Decentralized cryptocurrencies like Bitcoin act in a similar way as computer systems, as they are made up of nodes that create the network. The nodes are run by people or organizations that are scattered all around the world.
Each node functions independently of the rest of the network with no overhead centralized authority. Thus, there is no way to know if the faulty transaction information being supplied to the blockchain is done so deliberately with malicious intent or accidentally.
Proof-of-stake and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-work-pow/">proof-of-work algorithms<\/strong> are used by the most well-known cryptocurrencies such as <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin and <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">Ethereum to solve this issue.<\/p>\n<p>To put things into perspective, there are several Byzantine generals that surround the city, nevertheless, they can only interact with one another by <strong>messaging.<\/strong> Generals have to decide whether they will retreat or attack. However, there are <strong>unidentified traitors among these generals and they are constantly taking action against forming a general agreement<\/strong>.<\/p>\n<p>As a result, there is <strong>confusion<\/strong> over which decision-making process the generals should choose to use in order to develop an ordinary strategy without being influenced by the traitor's actions. Nonetheless, it is unknown if such an algorithm exists at all.<\/p>\n<p>Worth adding that only <strong>decentralized<\/strong> systems encounter the Byzantine Generals’ Problem since they are the ones that <strong>aren’t able to authenticate the information they get from other network users.<\/strong><\/p>\n<p>Besides, the problem is closely related to <strong>cryptocurrencies,<\/strong> since they are the \"generals\" who must agree on which transactions occurred and when.<\/p>\n<p>As reported by the researchers' investigation, an algorithm that should be adopted by generals is attainable. But there is a necessity that the number of loyal generals needs to be far bigger than the number of those who aren't. In reality, even if there are five generals and one of them is a traitor, an agreement can still be obtained.<\/p>","definition":"The Byzantine Generals' Problem refers to the difficulty that decentralized systems have in reaching a single truth.","status":"published","meta_title":"What is Byzantine Generals\u2019 Problem? Definition & Meaning | Crypto Wiki","meta_description":"Byzantine Generals\u2019 Problem meaning: Byzantine Generals\u2019 Problem - The Byzantine Generals' Problem refers to the difficulty that decentralized systems have in reaching a single truth.","meta_keywords":null}"
:prev-section="{"id":137,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Slang","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-11-25T10:29:02.000000Z","slug":"what-is-buy-wall","title":"What is Buy Wall?","section":"B","keyword":"Buy Wall","content":"<p><strong>A buy wall is an outcome of purchasing one big order or a mixture of several large orders that are classified at the same price in the order book of a specific market.<\/strong> The order book contains a list of buy and sells orders put in by traders.<\/p>\n<p>Speaking of <strong>cryptocurrency exchanges<\/strong>, trading is executed by using an order book in which buyers place their buying bids, and sellers place their asks. To specify, buying walls helps to avoid market price downfall by developing a huge amount of orders at the same price. This essentially needs large amounts of money to be done.<\/p>\n<p>By placing a buy wall users are able to <strong>manipulate<\/strong> the price. A <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-whale/">whale who keeps a big amount of a specific cryptocurrency in his <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-wallet/">wallet can get worried about the reputation of their asset. As a result, they might purchase more coins and strengthen the price. This way, the asset will seem to be more vigorous than it really is.<\/p>\n<p>A buy wall occurs when <strong>a massive limit order is placed to purchase at the same time the price of a cryptocurrency hits a specific level<\/strong>. Traders use this to create confidence in the market. Also, to prevent a cryptocurrency from going below that value since demand will almost certainly surpass the supply when the order is fulfilled.<\/p>\n<p>However, there isn’t any logical reason for sellers to offload their assets at a price that is lower than what the already existing unfulfilled buy wall offers to purchase. Besides, buy walls can be created for different reasons.<\/p>","definition":"occurs when a massive limit order is placed to purchase when the price of a cryptocurrency hits a specific level.","status":"published","meta_title":"What is Buy Wall? Definition & Meaning | Crypto Wiki","meta_description":"Buy Wall meaning: Buy Wall - occurs when a massive limit order is placed to purchase when the price of a cryptocurrency hits a specific level.","meta_keywords":null}"
:model="{"id":933,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Byzantine_fault","level":"easy","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2023-11-25T10:26:56.000000Z","slug":"what-is-byzantine-fault-tolerance-bft","title":"What is Byzantine Fault Tolerance (BFT)?","section":"B","keyword":"Byzantine Fault Tolerance (BFT)","content":"<p>The <strong>Byzantine Fault Tolerance (BFT)<\/strong> is a property notable in computer systems that makes them able to reach a consensus consistently regardless of whether some of the system nodes disagree with the consensus.<\/p>\n<p>The <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-byzantine-generals-problem/">Byzantine Generals’ Problem<\/strong><\/a> is a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-game-theory/">game theory<\/strong><\/a> concept used to show the <strong>problems of achieving consensus<\/strong> that are common in computer systems.<\/p>\n<p>The hypothetical scenario presents the idea of several Byzantine generals planning to attack a fortress. All generals communicate with each other solely through messengers. They must all collectively decide whether they should attack or retreat.<\/p>\n<p>Some of the generals are secretly traitors who could potentially sabotage any attempts to reach a consensus. The question follows: is it possible to establish a system that would ensure the loyal generals agree on the same plan regardless of whether it is known which generals are traitors?<\/p>\n<p>The resolution has been reached stating that it would be possible, so long as more than two-thirds of the generals are loyal.<\/p>\n<p>Technical solutions like the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-work-pow/">Proof-of-Work consensus mechanism<\/strong><\/a> employed by <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin (BTC)<\/strong><\/a> show how this can be achieved in practice, proving that as long as more than two-thirds of the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-node/">nodes are loyal to the system, a computer system can reach consensus.<\/p>\n<p><a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptocurrency/">Decentralized cryptocurrencies<\/strong><\/a> like Bitcoin act in a similar way as computer systems, as they are made up of nodes that create the network. The nodes are run by people or organizations that are scattered all around the world.<\/p>\n<p>Each node functions independently of the rest of the network with no overhead centralized authority. Thus, there is no way to know if the faulty transaction information being supplied to the blockchain is done so deliberately with malicious intent or accidentally.<\/p>","definition":"the property of computer systems making them able to reach consensus ignoring the failure of some of their components.","status":"published","meta_title":"What is Byzantine Fault Tolerance (BFT)? Definition & Meaning | Crypto Wiki","meta_description":"Byzantine Fault Tolerance (BFT) meaning: Byzantine Fault Tolerance (BFT) - the property of computer systems making them able to reach consensus ignoring the failure of some of their components.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}"
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current-chapter="B"
current-section="what-is-byzantine-fault-tolerance-bft">
