Blockchain networks combine groups of transactions into collections (blocks) that are appended to each other (chains). The blocks employ a function to ensure that values are not re-used in transactions, thus avoiding the problem of double spending. The network then uses a blockchain consensus mechanism to come to an agreement that a given block is valid.
Blockchains have devised a variety of consensus mechanisms to use for validation. This article explores the most common blockchain consensus mechanisms and some real-world variations.
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