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Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.

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Byzantine Fault Tolerance

A distributed system immune to Byzantine Failures is described as having Byzantine Fault Tolerance. A distributed system is considered vlunerable to Byzantine Faults when some components are faulty, yet the system cannot deterimine whether the component is faulty. In the context of blockchain concensus systems, systems that are Byzantine Fault Tolerant can reach concensus even when a portion of the nodes are dishonest or disfunctional, and the property is desired for its role in increasing network security. The term takes its name from the Byzantine Generals problem in which multiple generals endeavour to reach agreement via messages, knowing that some generals might be traitorous and send forged messages.