Consensus
By CoinGecko | Updated on Mar 03, 2020
Consensus is what allows a distributed system (like the blockchain) to function as a decentralized peer-to-peer system without the need to refer to a central authority figure for all participants to agree on what is the correct data.
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
Related Terms
ROI
Short for “Return on Investment”, the ratio between the net profit and cost of investing.
Central Bank Digital Currency (CBDC)
It is a digital fiat currency issued by the central banks, contrary to cryptocurrency that issued by non-legislative party.
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is a look-up service that allows Ethereum users to find websites or send and receive funds via simple names.
Pre-sale
A typically exclusive token sale event preceding a public ICO
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.