Consensus mechanism

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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)