Understanding Consensus Algorithms In Blockchain

Blockchain technology is the backbone of cryptocurrencies and has far-reaching applications beyond digital currencies. One of the critical components that ensure the integrity, security, and functionality of blockchain networks is the consensus algorithm. This article delves into the technicalities of consensus algorithms, explaining how they work and why they are essential for blockchain technology.

What is a Consensus Algorithm?

A consensus algorithm is a protocol used by blockchain networks to achieve agreement on a single data value or a single …

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