btc-to-the-moon

Why Consensus Mechanisms Matter:
In traditional centralized systems, such as banks, all transactions are verified and recorded by banks or other centralized institutions.
But in blockchain, there is no single agency to do these jobs. All nodes need to participate together to ensure the validity of transactions by reaching consensus.

Why Consensus Mechanisms Matter:
1. Security: It ensures that the data on the blockchain is not easy to be tampered with, and any attempt to modify the data will be discovered and rejected by the entire network.
2. Decentralization: Removes the reliance on a single intermediary and ensures that no single entity can control or tamper with data.
3. Data consistency: Through the consensus mechanism, all nodes in the blockchain network can ensure that the data recorded by themselves is consistent with other nodes to avoid disagreements.