A quorum function is a mechanism that determines the minimum number of participants necessary to validate a transaction or make a decision within a blockchain or distributed network. It ensures that actions taken on the network have adequate representation and legitimacy.In many decentralized systems, especially those using consensus algorithms, a quorum is essential to prevent issues like double-spending or conflicting transactions. Different protocols may define quorums based on a percentage of total nodes or specific fixed numbers.For example, in a proof-of-work environment, a certain percentage of miners might need to agree on a new block for it to be added to the blockchain. In contrast, a proof-of-stake system might require a subset of validators to confirm a transaction before it becomes official.Establishing a quorum helps maintain the integrity and reliability of the network, ensuring that decisions are not made by a small, potentially malicious group. It balances security, efficiency, and decentralization, making it a fundamental aspect of many blockchain architectures.
Bank of Japan Weighs Additional Rate Hikes as Inflation Persists
The Bank of Japan will continue to raise interest rates if economic and price trends progress as expected, Deputy Governor