Re:Big Banks Are All Over Blockchain
by viraptor on Wednesday December 27, 2017 @04:39PM
(#16018259)
Why would you want a consensus? In what financial situation would you expect the bank to say: this entity says the account has X, but those two entities say it has Y, so I'll accept Y?
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That's not how blockchain consensus works. Once block number X is finalized, everyone sees the same data in block number X.
If a block isn't finalized, and you build a transaction based on particular conditions in that block, and the finalized block has different conditions, then your transaction just fails.
> everyone sees the same data in block number X
The same data in a specific block, but not everyone necessarily agrees that the same block is the latest one. That's why you don't have 100% confidence in a single block confirmation.
Exactly, what I mean by "finalized" is that everyone agrees and there's a very low probability that they'll change their minds.