DeFi & Crypto Technical
Consensus Mechanism
The protocol by which blockchain nodes agree on transaction validity — PoW, PoS, and variants.
Definition
A consensus mechanism is the protocol that nodes follow to agree on which transactions are valid and added to the blockchain. Main types: Proof of Work (Bitcoin), Proof of Stake (Ethereum post-Merge, Solana, Cardano), and variants (DPoS, Tendermint BFT, etc.).