Consensus mechanisms also sometimes termed consensus protocols or consensus algorithms sanction distributed systems to work cooperatively and be secure.
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For a long time, these mechanisms have been introduced to build consensus among database nodes, application servers, and other enterprise infrastructure. However, In recent times, new consensus mechanisms have been innovated to grant crypto-economic systems, such as Ethereum, to agree on the state of the network.
If you are curious about the consensus algorithm then you have got the right article. this guide focuses on the below points:
- Consensus algorithm’s mechanism
- Properties of a Good Blockchain Consensus Mechanism
- It’s applications
So without any delay, let’s get started.
Points to be considered for a Good Blockchain Consensus Mechanism
In a good consensus mechanism, all the nodes have the ability to generate outcomes or outputs that are valid in accord with the rules of protocol.
It is the responsibility of a good consensus blockchain mechanism to make sure that each and every specific node of the network is participating actively in the polling or voting process.
In a Good consensus model, all the nodes functionally participate and are put up to update databases on Blockchain.
Another trait of a good mechanism is that it does not do partiality between nodes. It gives equal merit or value and worthiness to every vote received from the node.
Keeping the above points in mind, let’s talk about applications a little bit.
Application of Consensus algorithm
Although it is mainly used for decentralized systems, there are different applications of consensus algorithms. To better understand, let’s list the use cases of the consensus algorithm.
- Most blockchain networks take the basic benefit of the algorithm while deciding whether a transaction in a distributed ecosystem needs to be implemented or not.
- The consensus algorithm is also very useful in allocating a node a leader status.
- They also ensure that consistency is achieved and are used to synchronize data across the decentralized network.