All For One
  • Getting Started
    • Introduction
    • Installing the App
    • Creating a Wallet
      • Create via Seed Phrase
      • Create via SSO
      • Create via SSS
    • Importing a Wallet
      • Import via Seed Phrase
      • Import via Private Key
      • Import via SSS
      • Import via Hardware Wallet
    • Searching Crypto Assets
    • Buying Crypto Assets
      • Buying Coins with Fiat
      • Buying Tokens with Coins
    • Selling Crypto Assets
      • Selling Coins for Fiat
      • Selling Tokens for Coins
  • Token Research
    • Token Charts
    • Token Transactions
    • Token Whale Watching
    • Token Liquidity Info
  • Wallet Management
    • Supported Blockchains
    • Importing Tokens
    • Sending Crypto Assets
    • Receiving Crypto Assets
    • Wallet-Specific Settings
      • Enabling Chains
    • Global Wallet Settings
      • Collapse Defaults
      • Condensed View
      • Sort Tokens
      • Hide/Rearrange Wallets
  • User Settings
  • ECLIPSE™ Rankings
  • Security Features
  • Glossary
    • Definitions
      • Self-Custody Wallets
        • Public Addresses
        • Seed Phrases
        • Private Keys
        • Shamir's Secret Sharing
        • Multi-Chain Wallets
        • Hierarchical Determination
      • Smart Contracts
        • Tokens
        • NFTs
        • Staking Pools
      • Gas
      • Decentralized Exchanges
        • Automated Market Makers
        • Liquidity Pools
        • CPMM Formula
      • Decentralization
        • Distributed Consensus
          • Proof-of-Work
          • Proof-of-Stake
        • Decentralized Applications
        • Web3
        • Blockchains
          • Blockchain Explorers
    • Disambiguation
      • Coins vs Tokens
      • Seed Phrase vs Private Key
      • DEXs vs CEXs
      • Fungible vs Non-Fungible Tokens
      • PoW vs PoS
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  1. Glossary
  2. Definitions
  3. Decentralization

Distributed Consensus

PreviousDecentralizationNextProof-of-Work

Last updated 2 years ago

Distributed Consensus is a key principle of . It refers to the process by which a network of distributed nodes, or participants, reach a consensus or agreement on the state of the network or the validity of a transaction. This allows for the creation of a trusted, shared record of transactions without the need for a central authority or intermediary.

In a decentralized system, each node in the network maintains a copy of the ledger, or record of transactions, and participates in the consensus process. This ensures that the ledger is distributed and redundant, making it resistant to tampering or corruption.

The use of distributed consensus allows for trust to be established in a decentralized system without relying on a central authority. This can make decentralized systems more secure, transparent, and efficient than traditional centralized systems. (PoW) and (PoS) are two popular examples of distributed consensus mechanisms used to validate transactions on a blockchain.

decentralization
Proof-of-Work
Proof-of-Stake