MLchartDataset catalogue

Consensus mechanism

Term · Law · MLC-T-LAW-005322

A protocol or algorithm used in distributed systems, such as blockchain networks, to achieve agreement among multiple participants on a single data value or state of the network. These mechanisms validate transactions and maintain the integrity of the shared ledger without a central authority. Examples include Proof of Work (PoW) and Proof of Stake (PoS), which differ in their resource requirements and security models.

Table 1. Record
IdentifierMLC-T-LAW-005322
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005322",
  "term": "Consensus mechanism",
  "field": "Law",
  "definition": "A protocol or algorithm used in distributed systems, such as blockchain networks, to achieve agreement among multiple participants on a single data value or state of the network. These mechanisms validate transactions and maintain the integrity of the shared ledger without a central authority. Examples include Proof of Work (PoW) and Proof of Stake (PoS), which differ in their resource requirements and security models.",
  "url": "https://mlchart.com/terminology/law/consensus-mechanism/"
}

Record 1,035 of 5,441 in Law terminology (MLC-0107). Request the full dataset.