Bitcoin consensus algorithm updates HIBT

Introduction With a staggering $4.1 billion lost to DeFi hacks in 2024, security and reliability in the cryptocurrency space have never been more crucial. The Bitcoin consensus algorithm updates play a pivotal role in enhancing the efficiency and security of the Bitcoin network. In this article, we’ll explore how these updates can affect users, especially…

Introduction As of early 2024, the cryptocurrency landscape has seen staggering losses of over $4.1 billion due to hacks and vulnerabilities in decentralized finance (DeFi) platforms. This alarming trend highlights the need for a robust consensus algorithm in Bitcoin’s evolution. This article unpacks the latest updates on Bitcoin’s consensus algorithm, HIBT (Hybrid Incentive Byzantine Tolerance),…