ConsensusConsensus is what allows a distributed system (like the blockchain) to function as a decentralized peer-to-peer system without the need... Read More allows a distributed systemA distributed system comprises a collection of independent computers that communicate with each other to share resources and coordinate activities. Read More such as a blockchainA blockchain is a distributed database that is shared among the nodes of a computer network. Read More to function as a decentralizedDecentralization, an aspect of blockchain technology, facilitates power or authority distribution among individuals, groups, or institutions. A decentralized structure allows... Read More peer-to-peer systemA peer-to-peer (P2P) system is a P2P network that works together to share resources and achieve a shared purpose. In... Read More without the need to refer to a central authorityA central authority is an entity that holds centralized control over something, such as a financial exchange, asset, or transaction.... Read More figure for all participants to agree on what is the correct data. There is consensus when all participants agree on the content of the next blockGroups of data within a blockchain. On cryptocurrency blockchains, blocks are made up of transaction records as users buy or sell... Read More added to the blockchainA digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by....
