Consensus Protocol

Short Description:

A Consensus Protocol, like the XRP Ledger (XRPL), is a distributed network of nodes that collaboratively validate and vote to decide which transactions are applied to the ledger.

Main Description:

A Consensus Protocol refers to a distributed network of nodes that work together to achieve agreement on the state of a blockchain. Consensus protocols may employ various consensus algorithms, such as the XRP Ledger’s unique consensus algorithm, to ensure that all participants reach a shared and immutable record of transactions. This consensus mechanism enables trust and security in the network, as no single entity has control over the blockchain.