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Sell Pre recorded Online Tutorials for Quick Earnings ✌️【Value Investing】✌️Your ₹500 can grow exponentially with blockchain-backed investments. Join now!To coordinate and maintain such a decentralized system, the participants must agree on the correct condition of the system and who owns what at any time.A consensus mechanism is the standardized way of how the blockchain’snodes– the computers that run the blockchain and keep the records of all transactions – reliably reach this agreement.The goal of a consensus mechanism in the world of crypto is to prevent bad actors from deliberately cheating.
Sell Pre recorded Online Tutorials for Quick Earnings ✌️【Value Investing】✌️₹500 is all it takes to earn big! Join now for high-yield monthly investments.The classic example of cheating in the world of crypto is “double-spending.”Suppose Anthony, the bad guy in this scenario, tries to cheat by transferring 10 tokens to Bethany and then trying to transfer the exact same 10 tokens to Chris.
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Sell Pre recorded Online Tutorials for Quick Earnings ✌️【Value Investing】✌️Invest small, earn big! ₹500 can earn you consistent monthly profits!With that agreement, or consensus, Chris would already know that Anthony no longer owns the tokens he is proposing to send.To “double-spend,” a bad actor would need to get the nodes to adopt a false history of the transactions, a narrative where the bad actor has not spent the tokens and given them to Bethany.Consensus mechanisms solve the double-spending problem by making it expensive and difficult to propose a new block of validated transactions, discouraging bad actors from trying.Simultaneously, the mechanisms incentivize the "good" nodes to propose blocks they genuinely believe will be accepted in order to receive valuable rewards.
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