A consensus algorithm is a protocol that allows a distributed network of computers to agree on the current state of a shared ledger. It ensures that all participants in a blockchain network maintain an identical and verifiable record of transactions. These algorithms are fundamental to the security and operational integrity of decentralized systems.
Context
The ongoing evolution of consensus algorithms is a significant topic, with a persistent focus on the trade-offs between security, scalability, and energy efficiency. Discussions often compare proof-of-work mechanisms with newer proof-of-stake variants and their respective impacts on network performance and decentralization. The development of hybrid consensus models is an area of active research aiming to optimize these parameters.
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