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All Major Blockchain Consensus Algorithms Explained
Understanding the Different Types of Blockchain Consensus Mechanisms
Blockchain technology has taken the world by storm, offering a decentralized and secure way to store and transfer information. It has also revolutionized the way transactions are carried out, and with it comes a wide range of consensus algorithms. Here, consensus algorithms play a critical role in ensuring the integrity of blockchain networks. In this article, we will explore all major types of blockchain consensus algorithms, their meaning, advantages, disadvantages, and why they are essential in blockchain technology.
TLDR; Don’t have time to read through? Here’s a video that can help.
Blockchain Consensus Algorithms
Consensus algorithms are a set of rules or protocols that enable nodes in a blockchain network to agree on a shared state of the network. They are used to ensure that all nodes in the network come to a consensus on the validity…
