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Phrases with «consensus mechanism»

A consensus mechanism is a way for people or computers to agree on something. It helps a group of individuals reach a common decision or conclusion. It ensures that everyone involved is in sync and eliminates confusion or conflicts. It is often used in fields like blockchain technology, where multiple computers need to agree on the validity of transactions. Full definition

Sentences with «consensus mechanism»

  • Due to the bitcoin blockchain's proof - of - work consensus mechanism, computers are required to solve equations to verify and process transactions. (bitcoinafrica.io)
  • These developments will include new consensus mechanisms, updated principles for acting decisions regarding network updates, and most importantly, which stakeholder should have the final say over a network's development. (finextra.com)
  • This partnership will also strive to tackle consensus mechanism - related challenges, which have already been identified as problematic for blockchain developers. (cryptoninjas.net)
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