Category: Blockchain

What is Consensus?

Summary Definition: The mechanism through which distributed nodes agree on the single canonical state of the ledger.

Detailed Technical Explanation

Consensus mechanisms are algorithmic rules (such as Proof of Work, Proof of Stake, or Byzantine Fault Tolerance) that enable peer nodes to validate state transitions without trusting a central authority.

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Related Blockchain Terms

Block

A structured package of verified transactions cryptographically linked to the preceding...

Blockchain

A distributed, immutable digital ledger of cryptographically linked blocks shared across...

Fork

A change to the consensus rules of a blockchain resulting in a divergence of the network...

Genesis Block

The very first block ever recorded on a blockchain, usually designated as Block 0 or...

Hard Fork

A non-backward-compatible protocol upgrade requiring all validating nodes to update their...

Soft Fork

A backward-compatible protocol upgrade where non-upgraded nodes still recognize new...

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