Consensus
By CoinGecko | Updated on Mar 03, 2020
Consensus is what allows a distributed system (like the blockchain) to function as a decentralized peer-to-peer system without the need to refer to a central authority figure for all participants to agree on what is the correct data.
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
Related Terms
Interoperability
Interoperability refers to the property of product/systems that are able to work with products/systems that are different without any restrictions.
Mining
It is the process of the miners verify and adding transaction recors into a block.
Zero Knowledge Proof
Cryptographic proof for 2 parties to verify a value without revealing what the value is.
Money Printer Go Brrr
A meme made to describe the US Fed printing excessive amount of money to support the traditional financial market to avert the stock market crash during the COVID-19 coronavirus pandemic.
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