© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2022
J. T. GeorgeIntroducing Blockchain Applicationshttps://doi.org/10.1007/978-1-4842-7480-4_7

7. Consensus Algorithms for Blockchains

Joseph Thachil George1  
(1)
Rome, Italy
 

A consensus algorithm is a mechanism that enables humans or machines to cooperate in a distributed setting. Even if some agents fail, the system must be able to agree on a common source of truth for all agents. To put it another way, the system must be tolerant to failures.

In a centralized design, the system is controlled by a single entity. That system can make adjustments in most circumstances because there isn’t a complicated governance mechanism in place to obtain consensus among multiple ...

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