Consensus mechanism

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#