Blockchain Consensus Mechanisms

Blockchain Consensus Mechanisms:

Proof of Work**
Proof of work is a protocol that has the main goal of deterring cyber-attacks such as a distributed denial-of-service attack (DDoS), which has the purpose of exhausting the resources of a computer system by sending multiple fake requests. This is how it works:

  • The first block miner who solves the problem gets a reward in return.
  • The network miners compete to be the first to find a solution for the mathematical problem.
  • The transactions that are verified are only stored in the public blockchain.

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