• Latest
  • Trending
“Consensus Mechanism”. Part 4 – Blockchain 101 | by Mirev89 | The Capital | Oct, 2021

“Consensus Mechanism”. Part 4 – Blockchain 101 | by Mirev89 | The Capital | Oct, 2021

October 19, 2021
Over Tens of Billions of SHIB Burned in May as the Following Happened to Shiba Inu

Over Tens of Billions of SHIB Burned in May as the Following Happened to Shiba Inu

June 1, 2023
Singapore Bank DBS Completes Fixed Income Trade on JPMorgan’s Blockchain Network Onyx

Cryptocurrency Exchange Crypto.com Receives Digital Token License from Monetary Authority of Singapore (MAS)

June 1, 2023
XRP $1 Threshold On The Horizon? Trader Fuels Speculation

XRP $1 Threshold On The Horizon? Trader Fuels Speculation

June 1, 2023
Metacade price prediction for June: buy the MCADE dip

Metacade price prediction for June: buy the MCADE dip

June 1, 2023
EU Takes Major Step in Crypto Regulation with MiCA Legislation

EU Takes Major Step in Crypto Regulation with MiCA Legislation

June 1, 2023
FUR BALL: The Next Big Meme Coin Launches with a Bang

FUR BALL: The Next Big Meme Coin Launches with a Bang

May 31, 2023
Bitcoin BTC Price Settles Above $27K After Early Wednesday Dip Amid Rate Hike, Inflation Worries

Bitcoin BTC Price Settles Above $27K After Early Wednesday Dip Amid Rate Hike, Inflation Worries

May 31, 2023
JPMorgan analyst sees a ‘conditional’ upside to $45,000 in Bitcoin

JPMorgan analyst sees a ‘conditional’ upside to $45,000 in Bitcoin

May 31, 2023
Investment bank TD Cowen shuts crypto unit a year after opening

Investment bank TD Cowen shuts crypto unit a year after opening

May 31, 2023
  • Privacy Policy
Thursday, June 1, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

“Consensus Mechanism”. Part 4 – Blockchain 101 | by Mirev89 | The Capital | Oct, 2021

J_News by J_News
October 19, 2021
in Crypto Technical Analysis, Top News
0
“Consensus Mechanism”. Part 4 – Blockchain 101 | by Mirev89 | The Capital | Oct, 2021
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter


We now learnt that Blockchain is a distributed decentralized network that provides immutability, privacy, security, and transparency. There is no central authority present to validate and verify the transactions, yet every transaction in the Blockchain is considered to be completely secured and verified.

In the previous articles, we learnt how transactions are grouped into blocks and added to the network. However, this only happens once the network participants have reached an agreement, or CONSENSUS, on the validity of the transactions.

The word consensus comes from Latin meaning, “agreement, accord.”

This ensures that all participants are working based on the same ledger containing the same set of historical transactions hence they are incentivized to “play by the rules,” boosting the security of the whole system and preventing the corruption of files.

Essentially, the consensus protocol makes sure that every new block that is added to the Blockchain is the one and only version of the truth that is agreed upon by all the nodes in the Blockchain.

Let’s now have a look at the two most used and developed consensus algorithms and how they work:



Source link

Related articles

Over Tens of Billions of SHIB Burned in May as the Following Happened to Shiba Inu

Over Tens of Billions of SHIB Burned in May as the Following Happened to Shiba Inu

June 1, 2023
Singapore Bank DBS Completes Fixed Income Trade on JPMorgan’s Blockchain Network Onyx

Cryptocurrency Exchange Crypto.com Receives Digital Token License from Monetary Authority of Singapore (MAS)

June 1, 2023
ShareTweetShareShare
Previous Post

The Associated Press Launches NFT Collection on Binance Marketplace

Next Post

Charles Hoskinson Addresses FUD About Upcoming PAB Upgrade, Here’s What He Says

Related Posts

Over Tens of Billions of SHIB Burned in May as the Following Happened to Shiba Inu

Over Tens of Billions of SHIB Burned in May as the Following Happened to Shiba Inu

by J_News
June 1, 2023
0

Yuri Molchan Astounding amount of Shiba Inu coins removed from circulation in May Contents 15.4 billion SHIB locked in dead...

Singapore Bank DBS Completes Fixed Income Trade on JPMorgan’s Blockchain Network Onyx

Cryptocurrency Exchange Crypto.com Receives Digital Token License from Monetary Authority of Singapore (MAS)

by J_News
June 1, 2023
0

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The...

XRP $1 Threshold On The Horizon? Trader Fuels Speculation

XRP $1 Threshold On The Horizon? Trader Fuels Speculation

by J_News
June 1, 2023
0

XRP is no stranger to volatility and the excitement it brings. However, when a prominent trader like DonAlt raises the...

Metacade price prediction for June: buy the MCADE dip

Metacade price prediction for June: buy the MCADE dip

by J_News
June 1, 2023
0

Metacade price has pulled back slightly in the past few days. The token has numerous catalysts in the coming days....

EU Takes Major Step in Crypto Regulation with MiCA Legislation

EU Takes Major Step in Crypto Regulation with MiCA Legislation

by J_News
June 1, 2023
0

Alex Dovbnya The European Union (EU) made a significant stride in cryptocurrency regulation today by officially enacting the Markets in...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

Milady Meme Coin Price Prediction 2023-2030

Bitcoin Price (BTC) in Stasis Below $27K Ahead of Powell Speech

Peercoin Network Successfully Hard Forks – New Developers Hired

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT