What is a Consensus?

Consensus refers to the agreement mechanism used by blockchain participants to validate transactions and ensure the integrity of the blockchain network. Since blockchain networks operate in a decentralized environment, consensus algorithms like Proof of Work (PoW), Proof of Stake (PoS), and others are designed to ensure that all nodes in the network reach a consensus on the state of the ledger, even if some nodes are faulty or malicious. Consensus mechanisms are critical for the security and scalability of blockchain networks, allowing them to maintain a trustless, distributed ledger without relying on a central authority.