I. Recognising Consensus Mechanisms A. The Importance of Consensus in Blockchain Consensus mechanisms are critical to the integrity and trustworthiness of blockchain networks. Consensus ensures that all network nodes agree on the state of the blockchain in a decentralised system where multiple participants contribute to transaction validation and verification. The possibility of double-spending, fraud, and … Read more
What is Blockchain A blockchain is a decentralized and distributed digital ledger that is used to record transactions across many computers in a way that is secure, transparent, and tamper-resistant. Each block in the chain contains a cryptographic hash of the previous block, a timestamp, and transaction data. Once a block is added to the … Read more
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What is Blockchain Technology? If you have been following cryptocurrency, interesting, or banking over the past decade then chances are high that you have heard the term blockchain. Blockchain is the record-keeping tech which is behind the famous network of Bitcoin. At first glance, Bitcoin may seem complicated to you but the central concept of … Read more
