Lecture 9 – What is a consensus mechanism?
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A consensus mechanism is a system that cryptocurrencies such as Bitcoin and Ethereum use to agree on the validity of transactions without relying on a central authority, making the system secure and reliable. Popular mechanisms include proof of work and proof of stake. Consensus mechanisms also improve security by preventing fraudulent activities and attacks.
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#crypto #cryptocurrency #web3 #news #wildnews #web3otechnology #bitcoin #bitcoinnews #web3news #blockchain #consensus
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