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Consensus

Also called proof of work, proof of stake, PoW, PoS

What crypto means by it

How thousands of independent computers agree on one version of the truth without a referee. Proof of stake, the current standard, gives the vote to those with money at risk.

What you already know this as

Interbank clearing, where the arbitration is algorithmic and takes seconds instead of institutional and taking days.

Related terms

Validator Node Blockchain Staking

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