We all know that blockchains are specialised in reaching consensus on what is right and what is wrong, but how exactly they do that?
In this presentation Andreja will explain what types of consensus algorithms exists as well as checking what is happening "under the hood".
In summary, the blockchain consensus algorithm is a cornerstone of blockchain technology, providing the foundation of trust and security upon which the entire blockchain ecosystem is built. It is responsible for verifying transactions, creating new blocks, and maintaining the consensus among nodes in the network. With its decentralized and tamper-proof nature, the consensus algorithm provides trust and transparency to the users of the blockchain. The innovation and evolution of blockchain consensus algorithms continue, as developers seek to create algorithms that are more energy-efficient, scalable, and secure. It is a constantly evolving field, so we can expect to see many exciting advancements in the years to come.
*Consider subscribing to House of Web3 events calendar to stay in the loop with upcoming events, and follow us on Linkedin. And if you haven't already, join our Telegram Community Group or, if you prefer, Telegram Announcement channel.
*House of Web3 is a non profit organization with an aim to educate, connect and nurture talnets interested in contributing to evolution of Web3. Any donation to HoW3 would be much appreciated: https://mirror.xyz/0x00eeE6e552094DFFc2AD9639C0480f57be34e6d4*