Consensus Mechanism
A consensus mechanism is the rule set a network uses to decide which participant adds the next block and which chain is the true one.
In depth
Without a central operator, a blockchain needs a fair, tamper-resistant way to pick block producers. Proof of Work makes producers spend electricity; Proof of Stake makes them lock up coins; other schemes elect delegates or rely on known validators. Every mechanism trades off security, speed, energy use and decentralization differently.
Why it matters
The consensus mechanism largely determines a coin’s security model and its supply dynamics.