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Consensus mechanism

by Philip Ernisse

Consensus mechanism – also known as consensus algorithm. A fault-tolerant mechanism that is needed to achieve the necessary agreement on a single correct data value or a single state of the P2P network among distributed processes. Ensures that only true transactions are being executed.

For example, PoW, PoS and DPoS are popular consensus mechanisms. Other consensus mechanisms include PoC, PoB and PoET.

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