What is Consensus Mechanism?
Consensus Mechanism The protocol and process by which a blockchain network achieves agreement on the validity of transactions and the addition of new blocks, such as Proof of Work or Proof of Stake.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Consensus Mechanism” Used in Practice?
The choice of consensus mechanism affects portfolio asset security, staking yield, transaction speed, and network risk profile.
Certification Exam Relevance
Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Consensus Mechanism?
The protocol and process by which a blockchain network achieves agreement on the validity of transactions and the addition of new blocks, such as Proof of Work or Proof of Stake.
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