Glossary - ChicksX

Nakamoto Consensus is a blockchain protocol ensuring agreement among nodes through proof-of-work, enabling secure, decentralized transaction validation.

Nakamoto Consensus is a foundational blockchain protocol introduced by Bitcoin's creator, Satoshi Nakamoto. It ensures decentralized agreement among network nodes. The consensus is achieved through the proof-of-work mechanism, where nodes (miners) solve complex mathematical puzzles to validate transactions and create new blocks. This process deters malicious activities by making attacks costly and resource-intensive. When a block is mined, it is broadcasted to the network, and nodes verify its validity. If valid, it's added to the blockchain. This system maintains the integrity and security of the blockchain, allowing trustless and transparent exchanges without centralized control.