Consensus Mechanism

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    Categories: Blockchain

    The process of securely achieving agreement on the particular state of a network. It often relates to the validation of transactions being added to the ledger, with consensus having to be reached before the ledger is updated to ensure only legitimate transactions are recorded on the blockchain. Consensus mechanisms are decentralized, meaning that no single authority is responsible for changing the state of the network.

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    Justin Chan
    Dr Chan founded DataDrivenInvestor.com (DDI) and is the CEO for JCube Capital Partners. Specialized in strategy development, alternative data analytics and behavioral finance, Dr Chan also has extensive experience in investment management and financial services industries. Prior to forming JCube and DDI, Dr Chan served in the capacity of strategy development in multiple hedge funds, fintech companies, and also served as a senior quantitative strategist at GMO. A published author at professional journals in finance, Dr. Chan holds a Ph.D. degree in finance from UCLA.