Oldest consensusTruth admitted by all system participants. This doesn’t imply that it is the absolute truth or that it’sindisputable, it is the truth participants agree on. In crypto, algorithms beginning with algorithm, on which Bitcoin is based. On public blockchains, the consensus algorithm choses the block that is added to the blockchainA blockchain is a type of distributed ledger technology. It is a huge database formed by blocks,cryptographically linked to each other, containing information such as transactions. These blocks are addedfollowing at a given time and the “truth” of this blockchain.
Creating transaction blocks is easy for a computer connected to the network. It is needed to have a process that will determine that only one participant will be able to add a block to the chain, because it must be unique. The idea is to require that miners will accomplish a certain work which is to solve a complex mathematical problem which solution can only be randomly found, allowing them to add their block to the chain and to determine the consensus at given time, they will then be able to get their reward.
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