Question

What is Consensus algorithm in Blockchain?

Answer 1

Consensus algorithm is the method of gaining consensus on a change of a data over the system or distributed network. Consensus algorithms are heavily used in blockchains as they enable the network of unknown nodes to reach consensus on the data that is being stored or shared through the blockchain. Some of the most popular consensus algorithms include Proof-of-Stake(PoS) and Proof-of-Work(PoW)