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Consensus Mechanism: Difference between revisions
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(Created page with "== Introduction == A consensus mechanism is a fundamental component of distributed ledger systems and blockchain networks, enabling multiple nodes to agree on a single data value or a single version of the truth. This mechanism is essential for maintaining the integrity and security of the network, ensuring that all participants have a consistent view of the data. Consensus mechanisms are designed to prevent double-spen...") |
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Proof of Authority is a consensus mechanism where a limited number of trusted validators are responsible for creating new blocks. Validators are pre-approved and must maintain their reputation to continue participating in the network. PoA is suitable for private or consortium blockchains, where trust is established among participants. Networks like [[VeChain|VeChain]] utilize PoA. | Proof of Authority is a consensus mechanism where a limited number of trusted validators are responsible for creating new blocks. Validators are pre-approved and must maintain their reputation to continue participating in the network. PoA is suitable for private or consortium blockchains, where trust is established among participants. Networks like [[VeChain|VeChain]] utilize PoA. | ||
[[Image:Detail-104917.jpg|thumb|center|A visually appealing image of a blockchain network with interconnected nodes and digital data blocks.]] | |||
== Mechanism Design and Security == | == Mechanism Design and Security == | ||