What happens if BFT is not implemented in blockchain?

If BFT is not implemented in Blockchain, the chances of peer node able to transfer false transaction within the blockchain network make it susceptible to blockchain reliability. And with no centralized authority to monitor, makes the situation beyond damage repair.

What is blockchain technology?

Learn more about blockchain technology. Blockchain is a digital ledger database whose recorded contents are encrypted into a sequence of blocks and distributed throughout a network of participating computers (nodes). Blockchain is a distributed ledger database system whose technologies can change the way businesses and governments operate.

How blockchain technology can solve the Byzantine issue?

In blockchain, various consensus mechanisms are designed which inherently deals with the Byzantine issue. Before discussing the solutions, let’s understand how blockchain technology or distributed ledger technology systems reach a consensus and the selfsame requirements in any distributed technology system.

How does a bitcoin blockchain work?

Because of the decentralized nature of the Bitcoin blockchain, all transactions can be transparently viewed by either having a personal node or using blockchain explorers that allow anyone to see transactions occurring live. Each node has its own copy of the chain that gets updated as fresh blocks are confirmed and added.