Consensus

A consensus is an algorithm(system, method, or mechanism) with agreed upon rules for a network of computers to come to agreement on the current state of a distributed system.


Consensus algorithms can vary in their rules and specifications, However generally they follow this process:

  1. A transaction is proposed and broadcast to the Blockchain Nodes.
  2. Nodes validate the transaction using Consensus Algorithms of the network.
  3. The majority nodes will have to vote for it's verification using a cryptographic signature.
  4. Once a sufficient number of votes have been cast, the transaction is considered to be approved and is added to the Distributed Ledger.