A consensus mechanism is a process used in blockchain networks to achieve agreement among participants. It ensures that all nodes validate and record transactions in a uniform manner, maintaining the integrity of the ledger.Different consensus mechanisms exist, and each has its advantages and drawbacks. For example, Proof of Work requires participants to solve complex mathematical problems, which can be energy-intensive but adds security. In contrast, Proof of Stake allows participants to validate transactions based on the number of coins they hold, promoting efficiency and lower energy consumption.These mechanisms play a crucial role in preventing issues like double spending, ensuring that all participants trust the system. By agreeing on the state of the ledger, consensus mechanisms help maintain a decentralized and secure network.As blockchain technology evolves, new consensus methods continue to emerge, aimed at improving scalability, security, and sustainability. Each mechanism reflects the priorities and values of the specific blockchain project it supports.
CoinShares Records $785 Million in Digital Asset Inflows, 2024 YTD Surpasses $7.5 Billion
European crypto investment firm CoinShares has released a digital assets flows report for last week. The publication showed net inflows