The method by which all nodes in a blockchain network agree on the state of the ledger
Consensus Mechanism is a fundamental concept in the crypto space. The method by which all nodes in a blockchain network agree on the state of the ledger, and it plays a crucial role in the broader blockchain ecosystem. Understanding how Consensus Mechanism works helps investors and traders make more informed decisions.
Consensus Mechanism has widespread practical applications, from everyday transactions to long-term investment strategies. As the cryptocurrency market continues to evolve, the importance of Consensus Mechanism will only grow. On NowCrypto, you can practice and learn about this through paper trading.