A consensus algorithm is a fault-tolerant mechanism that is used in computer and blockchain systems to achieve the necessary agreement on a single data value or a single state of the network among distributed processes or multi-agent systems.
On the BitcoinBitcoin1$77,295.840.18%-6.01%-15.89%details blockchain, for instance, the consensus mechanism is known as Proof-of-Work (PoW)
Proof of work (PoW) is a decentralized consensus mechanism that requires members of a network to expend effort solving an arbitrary mathematical puzzle to prevent anybody from gaming the system.Learn more, which requires the exertion of computational power in order to solve a difficult but arbitrary puzzle in order to keep all nodes in the network honest.
