Consensus Mechanism

The consensus mechanism is a set of rules and processes used to maintain agreement across the Bitcoin network about the current state of the blockchain. It helps to verify and validate transactions, ensuring everyone has the same copy of the ledger without needing a central authority. A popular type of consensus mechanism is Proof-of-Work (PoW). These mechanisms keep the blockchain secure and trustworthy.

This process not only secures the network by making it extremely difficult and costly to alter recorded data but also creates a decentralized and transparent system where no central authority has control. This method of reaching agreement is crucial for maintaining the integrity and security of the Bitcoin network.