Consensus protocol

Consensus protocol is a set of rules and algorithms that govern how participants in a decentralized network agree on the validity of transactions and maintain a shared ledger. It ensures that all network participants reach a common agreement on the state of the blockchain. Consensus protocols are vital for ensuring trust, security, and the prevention of double-spending in blockchain networks. Prominent examples of consensus protocols include Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS), each with its own set of rules and benefits.