✅ Blockchain Technology Explained in 40 Sec – Part 2 🔥
👉 Nodes: Nodes are computers or devices that are connected to a blockchain network.
These nodes work together to verify transactions and maintain the security and
integrity of the network.
✅ Consensus mechanism: The consensus mechanism is a way in which nodes on a
blockchain network agrees on the validity of transactions. Different blockchain
networks use different consensus mechanisms, such as proof of work or proof of
stake.
👉 Distributed ledger: A distributed ledger is a type of database that is spread across
multiple nodes in a network, making it decentralized and resistant to tampering.
Blockchain is a type of distributed ledger.
✅ Mining: Mining is the process of adding new blocks to a blockchain. This process
involves using powerful computers to solve complex mathematical equations, and
the first node to solve the equation is rewarded with newly-created cryptocurrency.
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