Crypto Terms: Letter L

What is Liveness?

Liveness MEANING:
Liveness - the guarantee that a system will continue providing data and will not be shut down by any centralized authority.
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Let's find out Liveness meaning, definition in crypto, what is Liveness, and all other detailed facts.

In blockchain-based distributed systems, liveness is the guarantee that a protocol can exchange messages between the network nodes, allowing them to come to a consensus. Liveness acts as a reassurance that all network validators will reach a consensus regarding the block value.

Blockchain networks work on verifying the accuracy of the transaction history. The two key elements of determining the degree of correctness and the ordering of transactions are liveness and safety.

Liveness acts as the guarantee that the transaction information will continue to flow perpetually and will not be affected by any centralized authorities. One type of liveness is the termination of distributed computation. This acts as the guarantee that no two validators will reach a mismatched consensus and compute different values.

Safety is the guarantee that the system is honest and accurate. Bitcoin (BTC) relies on the Nakamoto Consensus, which is the Proof-of-Work algorithm used to validate transactions.

The Bitcoin blockchain network also uses the “longest chain wins” metric to ensure the accuracy of transaction history between the nodes. If the nodes are honest, the history and the expected history match.

The node acts as the copy of the distributed ledger and is operated by a participating entity on the blockchain network. Its value should in no way differ when compared to other network nodes.

If two nodes yield different values, it means that the blockchain has experienced a problem. In order to validate a new block, all nodes must reach a consensus on their data.