• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Inside The White House’s Crucial Crypto Meeting With Banks: Main Takeaways
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Inside The White House’s Crucial Crypto Meeting With Banks: Main Takeaways

Stellar Forks and Decides to Create a New Consensus System.

Alberto Mata
by Alberto Mata
Last Updated: November 16, 2016 5:19 pm
·
Posted in Altcoin News, Bitcoin, Companies, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On December 5, Stellar Executive Director Joyce Kim disclosed news of a ledger fork related to a failure of their consensus system. The consensus system used by both Stellar and Ripple have never been used at the scale Stellar is implementing, and the system failed to reach consensus causing a fork in the ledger. Stellar has about 140,000 active accounts per week, and over 3 million total accounts. The maximum number of total accounts the Stellar consensus mechanism has previously supported is 2.88 million.

“On Tuesday night, the nodes on the network began to disagree and caused a fork of the ledger. The majority of the network was on ledger chain A. At some point, the network decided to switch to ledger chain B…We are completing our review of the impact, but early reports indicate that the impact was not major.”
— Stellar Executive Director Joyce Kim

A few hours of transactions rolled back on chain A, and Stellar tried replaying them on chain B, but some transactions were not able to be replayed. Stellar is reaching out and offering assistance to gateways and exchanges that may have been affected by the consensus failure.

“We are still investigating the triggers for this consensus failure, but believe it is caused by the innate weaknesses of the Ripple/Stellar consensus system outlined above compounded by the number of accounts in the network. “
— Stellar Executive Director Joyce Kim

The risk of failure was predicted by Head of Stanford’s Secure Computing Group Professor David Mazières, and Stellar set out to create a new consensus mechanism. On September 18, a roadmap on Stellar’s github listed creating a new consensus algorithm as a milestone set for November 2014. The roadmap has since been updated, and the new consensus algorithm is currently being built. Stellar has mitigated the risk of ledger forks in the future by running only one validating node until the new consensus system is built.

Early Stellar roadmap outlines building new consensus algorithm by November.
Early Stellar roadmap outlines building new consensus algorithm by November.

“Given this real world occurrence of the consensus system’s previously theoretical risks, it is clear that we must prioritize the development of the new Stellar consensus algorithm and move away from the legacy consensus system to increase safety. The new Stellar consensus algorithm will not only be provably correct but also prioritize safety and fault tolerance over guaranteed termination. We believe this is a better choice since it is preferable for the system to pause than to enter divergent and contradictory states. ”
— Stellar Executive Director Joyce Kim

Stellar is a gateway based network and a hard fork of Ripple that was launched in August 2014. Like Ripple, the Stellar protocol enables transactions in any currency pair for which gateways and market makers exist. For example, Alice can send 10 bitcoins to a gateway, the gateway will issue Alice a 10 bitcoin IOU on Stellar, and Alice can then choose to send 10 bitcoins worth of US dollars to Bob. Stellar will connect Alice to a market maker that accepts bitcoins and sells dollars, automatically execute the transaction, and deliver 10 bitcoins worth of USD to Bob. The effect is that Alice and Bob can use Stellar to instantly and globally transact in any currency pair.

What do you think about Stellar’s moves?

Photo Source: Shuttershock, Stellar github.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Alberto Mata

Alberto Mata

Follow

Tech entrepreneur, scientist, thinker.

Full Profile

Related Posts

Bitcoin

Billionaire Entrepreneur Says Bitcoin Price Crash Is A Gift, Here’s Why

9 minutes ago
[보도자료] 비탈릭 부테린 "DAO와 예측 시장 결합이 미래"... AI 플랫폼 'SUBBD' 급등세 주목

비탈릭 부테린 “DAO와 예측 시장 결합이 미래”… AI 플랫폼 섭드($SUBBD) 급등세 주목

1 hour ago
Maxi Doge Among the Best Meme Coins

Why Investors Rank Maxi Doge Among the Best Meme Coins to Buy During This Market Shakeout

3 hours ago
Les 3 meilleures cryptos pour être riche en 2026 selon Claude IA

Les 3 meilleures cryptos pour être riche en 2026 selon Claude IA

5 hours ago
큐랩스, 암호화폐 시장 최대 리스크 양자 컴퓨터 위협 정조준... "큐원($qONE)이 보안 필수재 될 것"

큐랩스, 암호화폐 시장 최대 리스크 양자 컴퓨터 위협 정조준… “큐원($qONE)이 보안 필수재 될 것”

7 hours ago
Hyperliquid avanza en el mercado de predicciones mientras Bitcoin Hyper captura nuevos inversores

Hyperliquid avanza hacia los mercados de predicción: ¿la mejor altcoin para comprar ahora?

10 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • ¿Ha tocado fondo Dogecoin? Los traders prevén un rival...

    5 hours ago
  • CreditBlockchain

    CreditBlockchain cloud mining launches BNB contracts...

    1 day ago
  • เมื่อ Dogecoin...

    3 weeks ago
  • Crypto.com เขย่าตลาด...

    3 weeks ago
  • Forget SPX: If That’s the New-School Bitcoin, Maxi Doge Is the Supercharged DOGE Made for Bros

    Forget SPX: If That’s the New-School Bitcoin, Maxi Doge...

    3 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2026 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.