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Consensus Mechanism: Rules of the Blockchain to Ensure Consistency (and Its Connection to Virtual Currencies)

In the decentralized world of blockchain, there is no central authority like a bank to verify transactions or synchronize data. This is where the consensus mechanism comes in—it is the “rulebook” that all nodes (computers) in the blockchain network follow to reach a unified view of data, ensuring every transaction is valid, irreversible, and consistent across the […]

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