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Consensus Mechanism

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Table of contents
    1. 0.2. How Consensus Mechanisms Work
    2. 0.4. Common Types of Consensus
    3. 0.6. Why Consensus Matters in Blockchain

A consensus mechanism is the process used by blockchain networks to agree on the validity of transactions and maintain a shared, tamper-proof ledger. It allows distributed systems to function securely without central control.

How Consensus Mechanisms Work

When a transaction is made on a blockchain, it needs to be confirmed by the network. A consensus mechanism ensures that all nodes reach an agreement before adding that transaction to the ledger. This prevents issues like double spending or fraudulent entries.

Common Types of Consensus

Popular mechanisms include Proof of Work (PoW), where miners solve complex puzzles to validate transactions, and Proof of Stake (PoS), which relies on validators who lock up tokens to propose and confirm blocks. Each has different benefits in terms of energy efficiency, decentralization, and speed.

Why Consensus Matters in Blockchain

Consensus mechanisms are critical to blockchain’s security and trustlessness. They eliminate the need for intermediaries, allowing users to rely on cryptographic proof and collective agreement rather than central oversight.