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Key Consensus Mechanisms in Blockchain Networks

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by Giorgi Kostiuk

2 hours ago

Consensus mechanisms play a crucial role in blockchain technologies, ensuring security and efficiency.

Understanding Consensus Mechanisms

A consensus mechanism is the foundation of any blockchain system, enabling participants to collectively make decisions on the state of the distributed ledger.

Pi Network and the Stellar Consensus Protocol

Pi Network uses the Stellar Consensus Protocol (SCP), which is based on a federated model.

SCP supports large-scale adoption by providing an energy-efficient alternative.David Mazieres

Ice Open Network and Proof of Stake

Ice Open Network adopts the Proof of Stake (PoS) mechanism, focusing on energy efficiency and incentivizing participation through token staking.

Each system presents a unique approach to network security, reflecting a diversity of goals and priorities in blockchain technologies.

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