What is Consensus Mechanism?. A consensus mechanism is the method nodes use to agree on the next valid block. Examples include proof‑of‑work, proof‑of‑stake, and federated voting.
How it works
Nodes propose blocks and others validate. Incentives and penalties align behavior so honest blocks dominate.
Why it matters
Consensus determines speed, security assumptions, and hardware demands of a chain.
Common pitfalls
- Comparing mechanisms without their threat models
- Ignoring economic incentives behind security
- Assuming instant finality where only probabilistic finality exists
Quick example
In proof‑of‑stake, validators bond coins and attest to blocks, losing stake if they cheat.
See also
- Mining
- Staking
- Finality
TL;DR: What is Consensus Mechanism? defined in plain English with practical next steps.
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