Distributed Consensus

      Distributed Consensus is the coming to an agreement on something by multiple parties. 

      Within the context of cryptocurrency, digital assets, and blockchain, consensus is the mechanism by which a network operates and guarantees the validity of the activity that happens on it. Consensus mechanisms are fault-tolerant processes that establish the single true valid state of a ledger. 

      Public blockchains operate as decentralized, self-regulating systems on a global scale without any single authority. Because there is no final single party to pass judgment on the validity of data, the chains involve contributions from hundreds of thousands of participants who work on verification and authentication of transactions (miners/validators/nodes) occurring on the blockchain.

      Related Terms:

      Resources

Donate

BTC: bc1qcskmel9llhrdqj3arxyqnennx4ashvfutlreyy
LTC: ltc1qa0fj4lcu5365rep50aza5fqqvx8ef0afemh6s5
ETH: 0x071D72dbc48ad2Fe35daE256eCF0834C5dde688c
DASH: XgXHqVyJiQNdVVszH9cnqCP4uWcP8tVxdK
BNB: bnb1mau4j8kry0jgw45ufy69hvhd0k04llet8fk2p6

Welcome To The Crypfo Initiative!

There was an error while trying to send your request. Please try again.

Crypfo.info will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Join the Leaders of the Digital Economy.
Gain Access to Specialized Crypto Asset Insight before anyone else.