What Is the Fork Choice Rule?

The Fork Choice Rule (FCR) is a fundamental concept in blockchain protocols, particularly in the context of consensus mechanisms such as Proof of Stake (PoS) and Byzantine Fault Tolerance (BFT). The Fork Choice Rule dictates how nodes in a distributed network should choose between multiple competing chains or forks to reach consensus on the canonical or accepted version of the blockchain.

In essence, when multiple branches or forks of a blockchain exist due to the simultaneous creation of different blocks, the Fork Choice Rule guides nodes in selecting the most valid and preferred chain. This decision is crucial for maintaining the integrity and coherence of the distributed ledger.

Key aspects of the Fork Choice Rule include:

1. Longest Chain Rule (Proof of Work): In Proof of Work (PoW) consensus, the most commonly used Fork Choice Rule is the Longest Chain Rule. Nodes in the network typically choose the chain with the longest valid proof-of-work, considering it as the legitimate and accepted chain.

2. Weighted Voting (Proof of Stake): In Proof of Stake (PoS) consensus mechanisms, nodes' influence in the fork choice is determined by the amount of cryptocurrency they hold or "stake." Nodes with a higher stake may have more voting power, and the Fork Choice Rule may consider the chain with the most stake behind it as the canonical chain.

3. Safety and Liveness: The Fork Choice Rule aims to achieve a balance between safety and liveness. Safety ensures that conflicting transactions are not included in the chosen chain, maintaining the consistency of the ledger. Liveness ensures that the system keeps making progress, even in the presence of conflicting blocks.

4. Finality: Some Fork Choice Rules aim to achieve finality, meaning that once a block is included in the chain, it is considered irreversible. Finality provides a higher level of security and confidence in the state of the blockchain.

Different blockchain networks may employ variations of the Fork Choice Rule, and the choice often depends on the specific consensus algorithm and goals of the blockchain platform. The Fork Choice Rule plays a vital role in establishing decentralized agreement and preventing double-spending or other security threats in distributed ledger systems.

Here's the Analysis of #AXS :

#AXS is been rejected hard from the Strong Resistance Area and hodling above the Strong Structural Support Area around $9.10 - $9.20. Well, price, looks strongly bullish at the moment, so a bounce is expected from here and a Risky buys can be taken with stops below the swing points.

Well, #Bitcoin dip down and tested the major support level and kinda reacted to it. On Daily TF, its a rejection no confirmation yet, so have to see weather it gonna gave a break below of the zone or not. The 1st area of resistance/ flip level would be now at $43,000 - $43,200.

Notice on New Trading Pairs on Binance Spot - 2023-12-28

https://www.binance.com/en/support/announcement/6c2fd758669944fb9b11689ebb49070e

#TOTAL MARKETCAP UPDATE :

Marketcap moving into the positive side and even though 4H given a close below of the support area of $1.59T - $1.60T, but Daily giving a close above and multiple wick rejections, showing bullishness. Well, a whole lot of push is anticipated towards the major resistance zone of $1.75T - $1.78T, where alts could fly smoothly.

Miner revenue from fees has experienced a substantial surge, with certain blocks in 2023 generating fees that surpassed the 6.25 BTC subsidy. Two notable spikes in fees occurred this year, constituting approximately 25% of miner revenues. This level of fee contribution aligns with the exuberant phases observed during the 2017 and 2021 bull markets. In conclusion, the increased reliance on fees indicates a significant shift in the revenue composition for miners, reminiscent of previous bullish periods in the cryptocurrency market.

What Is Front Running ?

Front running is the act of placing a transaction in a queue with the knowledge of a future transaction. Front running on a blockchain platform normally happens when a miner, who has access to information on pending transactions, places an order that would earn him a profit based on a pending trade. For instance, on the Ethereum blockchain, front running can occur when bots are able to quote a higher gas price than a pending trade, thus, hastening its processing.

Other parties capable of front running are full node operators, which are parties tasked with keeping an eye on network activities, hence, have knowledge of unconfirmed transactions. Centralized exchanges can also conduct frontrunning, however, it would be against their best interest to cheat their own customers. Front running can also be orchestrated through other methods. Generalized front running taps into potentially profitable contract calls.

Other types of attacks include displacement, insertion and suppression. With a displacement attack, the malicious actor displaces a genuine transaction with their own. Although the original transaction may still run, it won’t have the positive effect as intended. On the other hand, an insertion attack sandwiches a genuine transaction between two transactions with the aim of making a profit without holding an asset.

The suppression attack is meant to delay others from running a transaction. When the withholding is lifted, the front runner is less concerned about the suppressed trade.

Front running can be mitigated by sequencing transactions and improving transaction confidentiality. Transaction sequencing is achievable through implementations such as Canonical Transaction Ordering Rule like the one employed by BCH (Bitcoin Cash). Confidentiality, on the other hand, is applicable on different sections of a decentralized application (DApps).

#MicroStrategy has acquired an additional 14,620 #BTC for ~$615.7 million at an average price of $42,110 per #bitcoin . Microstrategy now hodls 189,150 #BTC acquired for ~$5.9 billion at an average price of $31,168 per #bitcoin 🚀 🚀

Buying #KEY here

Link :- https://www.binance.com/en/futures/KEYUSDT

If you missed #BOND, Don't miss out #KEY. Expecting monstrous pump from it🚀✌️

#KEY/USDT BUY/LONG CALL

Lying above strong support. RSI is showing a bullish divergence. EMA'S are acting as solid support. Stochastic is giving a buying signal. Expecting a big upward move from here.

Targets: $0.00666 - 0.00885 - 0.00958 - 0.01145

Stop if 1D closes below $0.00489

#KEY brace yourself for the imminent pump that could redefine the game 🚀

#KEY/USDT

So far more than 100% quick profit with 20X leverage🚀✌️

Here's the Analysis of #ROSE :

#ROSE flipped above the strong level of Resistance of $0.114 - $0.121, where price already tested the zone as support and an another retest is expected towards the zone again for continue pushing towards the Next Resistance area of $0.161 - $0.166, as its moving properly inside the uptrend channel pattern.

#bitcoin just did a climb up towards the 1st resistance area and broke above it. Well, price is coming from the major support and expected to reach to next major one. Meanwhile, price is retesting the zone as support, which could push the price higher towards the Resistance Area. A ton of liquidity build along both side, let's see which side market will take it 1st.

#TOTAL2 (Altcoin MarketCap) Update :

#TOTAL2 kept on rising as #BTC.D given a close below of the support area, as money started flowing into altcoins. Well, Index have plenty of room to play as the next major resistance area is at $940B - $956B and structural support at$745B - $750B. In you have any position running just try to trail the stops as potentially it could move higher.