ConsensusBy 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.
ERC-20 is one of the most widely used token standards in Ethereum to create fungible, exchangeable tokens.
Zero Confirmation Transaction
Another name for "unconfirmed transaction"
EIP (Ethereum Improvement Proposal)
Refers to improvement proposals for Ethereum, used to introduce features or any updates on the Ethereum network.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
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