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
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Total Value Locked
Total Value Locked (TVL) represents the number of assets that are currently staked in a protocol or the total quantity of underlying amount of funds that a DeFi protocol has secured.
Scrypt
one of the hashing algoritm used in proof-of-work protocol, scrypt requires more memory in order to performing mining functions
Transactions Per Second (TPS)
It is number of transactions done per second. For example, there are 10 transactions of Bitcoin done in 1-minute. The TPS would be 10 transactions/60 seconds = ~0.17 TPS.
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