Nakamoto Consensus is a mechanism used to achieve agreement among participants in a decentralized network. It enables the validation and addition of transactions to a blockchain, ensuring that all nodes have a consistent view of the data.At the core of this consensus is the Proof of Work system. Miners compete to solve complex mathematical puzzles, and the first to find a solution gets the right to add a new block to the blockchain. This process secures the network against attacks and ensures that all transactions are verified.Because it relies on computational effort, Nakamoto Consensus discourages malicious behavior. If someone wanted to alter the blockchain, they would need to outpace the entire network of miners, making such attacks highly impractical.By allowing individual nodes to independently verify transactions and blocks, this consensus model promotes trust and security. It enables a decentralized system where no single entity has control, fostering a transparent and reliable environment for conducting transactions.
Russia Grants Banks Limited Approval to Handle Cryptocurrencies
Russian banks will be allowed to conduct cryptocurrency operations under strict conditions, the Central Bank announced Friday, marking a cautious