Consensus, What does it mean?

Consensus is a term used in the cryptocurrencies field. It is key to understand it in order to fully understand this world

Definition of Consensus

Consensus is the process by which transactions are agreed upon by all nodes, thereby achieving validity. Achieving consensus is a critical component of cryptocurrency transactions as it is one of the fundamental elements of decentralization and blockchain technology. Consensus is used to reach an agreement on the various aspects of a digital transaction, thus ensuring the credibility of the network.

Consensus is related to


See more: Cryptonyms glossary