What is and how does the consensus mechanism work?

Blockchain networks and other distributed systems that aspire to achieve consensus among many participants or nodes must have consensus methods. A consensus mechanism’s main objectives are to provide a single, consistent image of the network and to guarantee the accuracy and reliability of the shared data.

Consensus methods in the context of blockchain technology enable a decentralized network of nodes to concur on the sequence and authenticity of transactions. They ensure that all nodes keep a consistent copy of the blockchain ledger and help…