Consensus Mechanism

Being decentralized, blockchains need to come to a general decision. The agreement is achieved with the help of a consensus mechanism. In blockchain, there is a certain consensus the network has to reach. It means that over 51% of the nodes should agree, ensuring everyone’s on the same page. The algorithm helps to maintain the system.

Every blockchain functions under the consensus mechanism. It ensures that all transactions on the blockchain are secure, and the validated transactions are recorded under the blockchain. Different blockchain networks opt for their unique consensus mechanism to achieve trust and security. One of the most commonly used consensus algorithms is proof-of-work (PoW).