What is a Consensus Mechanism? A Beginner’s Guide to the Technology Behind Blockchain

“Consensus Mechanism” — You’ve heard the term, but what is it?

A consensus mechanism is a fundamental part of blockchain technology that ensures that all nodes in the network agree on the current state of the blockchain. It is a process by which nodes in a distributed network come to a consensus about the current state of the blockchain and it is the mechanism that enables the decentralized, trustless operation of blockchains. In this beginner’s guide, we’ll explain what consensus mechanisms are, how they work, and why they are important.

What is a Consensus Mechanism?

A consensus mechanism is a protocol or algorithm that ensures all nodes in a distributed network reach a consensus on the current state of the blockchain. It is the mechanism that enables the decentralized, trustless operation of blockchains. There are various types of consensus mechanism, each with its own set of advantages and disadvantages.

The most common consensus mechanisms used in blockchain technology are:

• Proof of Work (PoW)
• Proof of Stake (PoS)
• Delegated Proof of Stake (DPoS)
• Practical Byzantine Fault Tolerance (PBFT)