Consensus allows a distributed systemA distributed system comprises a collection of independent computers that communicate with each other to share resources and coordinate activities. such as a blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions.... to function as a decentralizedDecentralization, an aspect of blockchain technology, facilitates power or authority distribution among individuals, groups, or institutions. A decentralized structure allows... peer-to-peer systemA peer-to-peer (P2P) system is a P2P network that works together to share resources and achieve a shared purpose. In... without the need to refer to a central authorityA central authority is an entity that holds centralized control over something, such as a financial exchange, asset, or transaction.... figure for all participants to agree on what is the correct data. There is consensus when all participants agree on the content of the next blockA block is a specific type of construct in a blockchain that stores transactional information blocks typically contain transaction information... added to the blockchain.
