Difference between revisions of "Consensus mechanism"
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[https://www.investopedia.com/terms/c/consensus-mechanism-cryptocurrency.asp#:~:text=A%20consensus%20mechanism%20is%20a,systems%2C%20such%20as%20with%20cryptocurrencies. https://www.investopedia.com/terms/c/consensus-mechanism-cryptocurrency.asp#] | [https://www.investopedia.com/terms/c/consensus-mechanism-cryptocurrency.asp#:~:text=A%20consensus%20mechanism%20is%20a,systems%2C%20such%20as%20with%20cryptocurrencies. https://www.investopedia.com/terms/c/consensus-mechanism-cryptocurrency.asp#] | ||
[[Category:Glossary]] | |||
Latest revision as of 18:38, 7 May 2022
A consensus mechanism is a fault-tolerant mechanism that is used in computer and blockchain systems to achieve the necessary agreement on a single data value or a single state of the network among distributed processes or multi-agent systems, such as with cryptocurrencies.
Consensus mechanisms
Some Consensus mechanisms are:
- POW (Proof of Work) a very well known mechanism, invented by the famous pseudonym - Satoshi Nakomoto
- POS (Proof of Stake)
- DPOS (Delegated Proof of Stake)
- PBFT (Practical Byzantine Fault Tolerance)
- DAG (Directed Acyclic Graph)
Sources:
https://www.investopedia.com/terms/c/consensus-mechanism-cryptocurrency.asp#