What is the concept of ghost chains in the crypto industry?

3 answers

• Nov 27, 2021 · 3 years ago
  Ghost chains, also known as orphan chains, are blockchain branches that are created when two or more miners find blocks at the same time. However, only one of these branches can become the main chain, while the others become ghost chains. Ghost chains are not recognized by the majority of the network and are considered invalid. They do not contribute to the overall security of the blockchain, but they can still exist temporarily until they are eventually discarded. Ghost chains can occur in any blockchain network, including Bitcoin and Ethereum. They are relevant in the crypto industry as they highlight the importance of consensus mechanisms and the need for a single, valid chain to maintain the integrity of the network.
  730365
• Nov 27, 2021 · 3 years ago
  Ghost chains? Sounds spooky! In the crypto industry, ghost chains refer to blockchain branches that are created when multiple miners find blocks at the same time. However, only one of these branches can be considered the valid chain, while the others become ghost chains. These ghost chains are not recognized by the majority of the network and are essentially discarded. They don't have any impact on the overall security of the blockchain, but they do highlight the importance of consensus and the need for a single, agreed-upon chain in the crypto world.
  557186
• Nov 27, 2021 · 3 years ago
  Ghost chains are an interesting concept in the crypto industry. When multiple miners find blocks at the same time, it creates a situation where there are multiple branches or chains. However, only one of these chains can be considered the main chain, while the others become ghost chains. These ghost chains are not recognized by the majority of the network and are essentially ignored. They don't contribute to the security or functionality of the blockchain, but they do serve as a reminder of the challenges faced in achieving consensus in decentralized networks. Ghost chains are relevant in the crypto industry as they highlight the importance of a single, valid chain to ensure the integrity and trustworthiness of the blockchain.
  736184