dBFT 2.0

Delegated Byzantine Fault Tolerance 2.0 (dBFT 2.0) is a consensus mechanism used in blockchain networks to achieve distributed consensus and validate transactions. It is an enhanced version of the original dBFT consensus algorithm and is primarily associated with the NEO blockchain.

dBFT 2.0 is based on the principles of Byzantine Fault Tolerance (BFT), which aims to achieve consensus among distributed nodes even in the presence of malicious actors or faulty nodes. In dBFT 2.0, network participants, known as bookkeeping nodes or consensus nodes, are responsible for validating and verifying transactions and adding them to the blockchain.

The consensus process in dBFT 2.0 involves several key steps:

• Speaker Election: Consensus nodes are elected through a voting process to participate in the block creation process.
• Block Creation: The elected speaker node proposes a new block containing a set of transactions.
• Verification: The remaining consensus nodes verify the proposed block and its transactions for validity.
• Consensus: If a supermajority (often two-thirds) of the consensus nodes agree on the validity of the proposed block, it is added to the blockchain.
• Block Finalization: Once added to the blockchain, the block is considered final and cannot be reverted, ensuring immutability.

dBFT 2.0 offers several advantages, including fast transaction processing times, energy efficiency, and resistance to Byzantine faults. However, it also relies on a limited number of trusted consensus nodes, which may introduce centralization risks compared to other consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS).

Overall, dBFT 2.0 is designed to provide a secure and efficient consensus mechanism for blockchain networks, particularly those focused on scalability and throughput like NEO.