🟢 Blockchain Consensus Mechanisms

⚖️ How do thousands of computers agree on what’s true in a decentralized network? That’s where consensus mechanisms come in.

A blockchain is a digital ledger that records transactions in blocks, which are linked together in chronological order and visible to everyone on the network.

A consensus mechanism is the method that lets all nodes (computers that store and verify blockchain data) agree on the state of the ledger without needing a central authority.

The two main types:

Proof of Work (PoW): Miners (computers solving math puzzles) compete to validate transactions. The first to solve the puzzle adds the block to the blockchain and earns a reward. Bitcoin uses PoW.

Proof of Stake (PoS): Validators lock up (“stake”) their coins to propose new blocks. The network selects validators based on stake and other rules. Ethereum uses PoS.

Why it matters: Consensus ensures that transactions are verified, blocks aren’t duplicated, and nobody can cheat the system.

Without consensus, a blockchain would be vulnerable to double-spending attacks, where someone could spend the same coin twice.

💡 Fun Fact: Bitcoin’s PoW requires more electricity than some countries to secure the network—showing the incredible scale of decentralized security.

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