Two Phase Commit

A Two Way Peg is a system that allows a cryptocurrency's value to be fixed against another asset, ensuring stable exchange rates and liquidity.

Two Phase Commit is a protocol designed to ensure consistency across distributed systems, particularly in transactions. It involves two main phases: the prepare phase and the commit phase.In the prepare phase, a coordinator node sends a request to participant nodes to check if they can commit a transaction. Each participant responds with either a “yes” (indicating readiness) or “no” (indicating a problem). If all participants reply affirmatively, the coordinator moves to the next phase. In the commit phase, the coordinator instructs the participants to finalize the transaction. If any participant indicates they cannot commit during the first phase, the coordinator sends a rollback command to all nodes, ensuring that the system remains consistent.This approach provides a way to manage transactions across multiple nodes, preventing issues like partial transactions, which can lead to data inconsistencies. By requiring agreement from all parties before finalizing any changes, Two Phase Commit helps maintain the integrity of the system.

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