Consensus Mechanism

A consensus mechanism is a crucial part of blockchain networks that ensures agreement between distributed nodes on the state of the blockchain. It validates transactions and maintains the security and integrity of the decentralized ledger. The consensus mechanism is designed to enable all participants to agree on the validity of a transaction without needing a central authority, ensuring that the blockchain remains secure and trustworthy.

Different blockchains use different consensus mechanisms to achieve this agreement. Proof of Work (PoW), used by Bitcoin, relies on miners solving complex puzzles, while Proof of Stake (PoS), used by Ethereum 2.0, selects validators based on the number of coins they hold. These mechanisms are essential for ensuring data integrity, preventing double-spending, and protecting the network from malicious actors.