æternity Consensus Protocol
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The æternity blockchain uses a modified version of the Bitcoin-NG (Next Generation) consensus protocol, designed to significantly improve scalability and transaction throughput while maintaining security. Unlike traditional blockchain protocols that combine leader election and transaction processing in a single block, Bitcoin-NG separates these functions: key blocks handle leader election through proof-of-work mining, while micro blocks, created by the elected leader, contain transactions. This innovative approach allows æternity to achieve higher transaction speeds (approximately 120 transactions per second) and shorter confirmation times (around 3 seconds) compared to traditional blockchain architectures, all while preserving decentralization and security.
Our consensus protocol documentation provides detailed technical specifications of this implementation, covering Bitcoin-NG's adaptation for æternity, the handling of coinbase rewards at different block heights, fundamental consensus mechanisms, and the protocol's coin locking features for participation in governance and delegation.
