What is the purpose of a 'consensus algorithm' in a blockchain network?
- Encrypt data transmission
- Prevent distributed denial-of-service (DDoS) attacks
- Reach agreement on the state of the blockchain
- Secure user authentication
A 'consensus algorithm' in a blockchain network is designed to achieve agreement among nodes on the state of the blockchain. It ensures that all participants validate and agree on the same set of transactions, maintaining the integrity and immutability of the distributed ledger. Understanding consensus algorithms is fundamental for evaluating the security and efficiency of a blockchain network.__________________________________________________
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