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
Margin Trading
It is a way of investing by borrowing money from a broker (or in crypto, an exchange or platform) to trade
Blockchain
In Bitcoin's case, blockchain describes its decentralized, public ledger which contains transactional information.
Node
Within the blockchain network, the nodes are computers that connect to the network and have an updated copy of the blockchain
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.
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