Honest majority refers to a situation where the majority of participants in a network behave truthfully and follow the established rules. In systems like blockchain, this concept is crucial for maintaining security and preventing malicious activities.When the majority of participants act honestly, they validate transactions correctly and uphold the integrity of the entire network. This honest behavior helps to ensure that no single entity can manipulate the system, making it more resilient against attacks such as double spending or network monopolization.To function effectively, many blockchain systems rely on the assumption that an honest majority will be maintaining the network. If less than half of the participants become dishonest, the integrity of the blockchain can still be preserved. This concept is fundamental for consensus mechanisms, as it influences how blocks are added and how conflicts are resolved.In summary, the honest majority is vital for the trustworthiness and security of decentralized systems, helping to safeguard the network from fraud and abuse.
Russia Grants Banks Limited Approval to Handle Cryptocurrencies
Russian banks will be allowed to conduct cryptocurrency operations under strict conditions, the Central Bank announced Friday, marking a cautious