Crypto Terms:
Letter D
What is Distributed Consensus?
Meaning:
Distributed Consensus -
is a group agreement that is completed by nodes in a particular network.
Let's find out Distributed Consensus meaning, definition in crypto, what is Distributed Consensus, and all other detailed facts.
Distributed consensus is essential for the operations of a machine or network in a decentralized way.
Even if reaching a consensus between two parties is simple and clear, as the number of participants rises, reaching a consensus gets more complex. To collaborate on a shared purpose, all nodes on a network must agree on a "single source of truth."
The “single source of truth” means that they require to be sure that the data they are receiving is accurate, even in the scenario where several other nodes on the network break down.
The bulk of distributed consensus techniques has the same basic features. For starters, they are centered on a stake, which refers to a few stores of value that a candidate is putting up, such as particular currencies or computer capacity.
They also include a reward for validating, or mining, a block, which is often in the shape of a coin unique to the blockchain in the discussion.
Proof-of-work is fundamental for blockchain-based consensus and keeps the foundation of the Bitcoin blockchain, on which new blocks are being mined. Nonetheless, a few additional consensus mechanisms exist and are being utilized on different blockchain projects.
These projects include proof-of-stake, which is now getting more and more widely adopted.
Each node in the network, or participant in the Bitcoin blockchain, for example, must have an exact duplicate of the ledger as well as a consensus that the edition of the ledger maintained by each node is correct. Blockchain initiatives use distributed consensus techniques to do this.
As envisioned and created by Satoshi Nakamoto, the inventor of Bitcoin, consensus, and collaboration on the Bitcoin blockchain are accomplished by proof-of-work. Proof-of-stake and delegated proof-of-stake are two further consensus methods.
Crypto exchanges<\/strong><\/a> often become victims of DDoS attacks. This is because malicious actors usually focus on dominant organizations. Besides, the increasing popularity and knowledge of cryptocurrencies have given the spotlight to the exchange platforms.<\/p>\n<p>DDoS attacks can pull two large crypto exchange platforms offline in less than 24 hours. The hazards for exchanges are evident - <strong>DDoS attacks prevent users from transacting until the exchanges are brought back online<\/strong>.<\/p>\n<p>DDoS attacks often make use of networks of hacked devices that have been placed under the control of the malicious attacker. The attacker instructs each bot to overload the target with queries in order to overpower the network, which disallows valid traffic.<\/p>\n<p>The large amount of DDoS attacks that were implemented on a variety of crypto sites and exchanges in the past showcases a way bigger issue – <strong>cryptocurrencies are required to be credible if they aim to achieve mass adoption.<\/strong><\/p>\n<p>Why? Because users have to be sure that they will be able to enter their funds and perform transactions in the same easy manner and peace of mind that they do when using a central bank. Also, if exchanges and other sites get targeted by DDoS attacks, users might get worried about the stableness and credibility of the crypto industry in general.<\/p>","definition":"a sort of cyberattack which happens when a network is overloaded with transactions.","status":"published","meta_title":"What is Distributed Denial of Service (DDoS) Attack? Definition & Meaning | Crypto Wiki","meta_description":"Distributed Denial of Service (DDoS) Attack meaning: Distributed Denial of Service (DDoS) Attack - is a sort of cyberattack that is quite common.","meta_keywords":null}"
:prev-section="{"id":280,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Discord","level":"medium","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2024-01-06T16:01:48.000000Z","slug":"what-is-discord","title":"What is Discord?","section":"D","keyword":"Discord","content":"<p>Nowadays, especially in the <strong>gaming industry<\/strong>, Discord is a very widely known tool.<\/p>\n<p><strong>It was created in 2015, and its sole purpose was to benefit the gaming community by allowing players to engage easily through a simple route to meet gamers' community-building requirements.<\/strong> Indeed, its creators have long been active in the video gaming business and created Discord to deliver an improved communication platform for gamers.<\/p>\n<p>A server on Discord can be created by anyone for any community. The creators can also invite others to join and connect with them. Inside that <strong>server,<\/strong> there can also be several channels for particular matters.<\/p>\n<p>Nevertheless, the model is now different. Discord can now be used by anyone and is not limited to gamers only. It has grown to a tool for all types of individuals seeking to create a community to engage with others.<\/p>\n<h3>Is it Secure?<\/h3>\n<p><strong>Discord couldn’t be described as the safest platform on the internet.<\/strong> That is because it doesn’t contain end-to-end <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-encryption/">encryption. The data users post goes across their servers that can easily be obtained by third parties.<\/p>\n<p>Users can enter Discord directly from the website and utilize it inside their browser. It’s accessible in the shape of applications for <strong>macOS, iOS, Windows, or Linux<\/strong>.<\/p>\n<p><em>Others believe that Discord is completely safe as long as you don’t click any malicious links and follow the rules of the servers.<\/em><\/p>\n<h3>Discord Had Skyrocketed in Popularity<\/h3>\n<p>Approximately 140 million active users were registered by the end of 2020, on Discord. <strong>One of the primary causes is the huge need for social media and interactive tools during the Covid-19 pandemic.<\/strong> However, the surge in content development has helped the most to its sudden success.<\/p>\n<p>Discord was lately frequently used by members of the crypto community. It has grown in prominence in the crypto and blockchain areas since many groups have built communities on its servers.<\/p>\n<p>Discord has always been quite essential in the gaming sector, which is one of the key reasons for the app's quick rise during the epidemic. Because people had more spare time, they began to engage in e-gaming, and many began broadcasting their games online.<\/p>\n<p><strong>Discord allows online streamers to answer calls from guests while engaging in online streaming. Besides, gamers can get in touch using the application and even play multiplayer games together.<\/strong><\/p>\n<p>It also provides a lot of other characteristics that allow users to employ several features. One of which could be listening to <strong>Spotify<\/strong> playlists together with other people. There are also bots that can be set to complete a few of the automated tasks.<\/p>","definition":"is a web-based communication platform or application that was developed for games to communicate with one another.","status":"published","meta_title":"What is Discord? Definition & Meaning | Crypto Wiki","meta_description":"Discord meaning: Discord - is a web-based communication platform or application that was developed for games to communicate with one another.","meta_keywords":null}"
:model="{"id":281,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Consensus_(computer_science)","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2024-01-06T16:01:57.000000Z","slug":"what-is-distributed-consensus","title":"What is Distributed Consensus?","section":"D","keyword":"Distributed Consensus","content":"<p><strong>Distributed consensus is essential for the operations of a machine or network in a decentralized way.<\/strong><\/p>\n<p>Even if reaching a consensus between two parties is simple and clear, as the number of participants rises, reaching a consensus gets more complex. To collaborate on a shared purpose, all nodes on a network must agree on a <strong>\"single source of truth.\"<\/strong><\/p>\n<p>The “single source of truth” means that they require to be sure that the data they are receiving is accurate, even in the scenario where several other nodes on the network break down.<\/p>\n<p>The bulk of distributed consensus techniques has the same basic features. For starters, they are centered on a stake, which refers to a few stores of value that a candidate is putting up, such as particular currencies or computer capacity. <\/p>\n<p><strong>They also include a reward for validating, or mining, a block, which is often in the shape of a coin unique to the blockchain in the discussion.<\/strong><\/p>\n<p>Proof-of-work is fundamental for blockchain-based <strong>consensus<\/strong> and keeps the foundation of the Bitcoin blockchain, on which new blocks are being mined. Nonetheless, a few additional consensus mechanisms exist and are being utilized on different blockchain projects.<\/p>\n<p>These projects include <strong><a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">proof-of-stake, which is now getting more and more widely adopted.<\/p>\n<p>Each node in the network, or participant in the Bitcoin blockchain, for example, must have an exact duplicate of the ledger as well as a consensus that the edition of the ledger maintained by each node is correct. <strong>Blockchain initiatives use distributed consensus techniques to do this.<\/strong><\/p>\n<p>As envisioned and created by <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//who-is-satoshi-nakamoto/">Satoshi Nakamoto<\/strong><\/a>, the inventor of <strong><a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin, consensus, and collaboration on the Bitcoin blockchain are accomplished by <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-work-pow/">proof-of-work. Proof-of-stake and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-delegated-proof-of-stake/">delegated proof-of-stake<\/strong><\/a> are two further consensus methods.<\/p>","definition":"is a group agreement that is completed by nodes in a particular network.","status":"published","meta_title":"What is Distributed Consensus? Definition & Meaning | Crypto Wiki","meta_description":"Distributed Consensus meaning: Distributed Consensus - is a group agreement that is completed by nodes in a particular network.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}"
:chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? 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(NFTs)?","status":"published","modified_content":null},{"chapter_id":6,"order":1,"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","status":"published","modified_content":null},{"chapter_id":6,"order":2,"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","status":"published","modified_content":null},{"chapter_id":6,"order":3,"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","status":"published","modified_content":null},{"chapter_id":6,"order":4,"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","status":"published","modified_content":null},{"chapter_id":6,"order":5,"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","status":"published","modified_content":null},{"chapter_id":6,"order":6,"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart Contracts?","status":"published","modified_content":null},{"chapter_id":6,"order":7,"slug":"what-is-a-dao-in-crypto","title":"The Notion of a Decentralized Autonomous Ogranization (DAO)","status":"published","modified_content":null},{"chapter_id":6,"order":8,"slug":"what-is-staking-in-crypto","title":"What is the Goal of Staking Crypto Assets?","status":"published","modified_content":null},{"chapter_id":6,"order":9,"slug":"what-is-liquidity-pool-in-crypto","title":"What is a Liquidity Pool and How Does It Work?","status":"published","modified_content":null},{"chapter_id":6,"order":10,"slug":"what-is-automated-market-maker","title":"Automated Market Maker: the Cornerstone of the Decentralized Crypto Exchange Industry","status":"published","modified_content":null},{"chapter_id":6,"order":11,"slug":"what-is-yield-farming-in-crypto","title":"The Main Yield Farming Techniques","status":"published","modified_content":null},{"chapter_id":6,"order":12,"slug":"what-is-an-oracle-in-crypto","title":"Crypto Oracles: The Link Between Blockchain and Outside World Data","status":"published","modified_content":null},{"chapter_id":6,"order":13,"slug":"crypto-gambling","title":"The Peculiarities of Decentralized Crypto Gambling","status":"published","modified_content":null},{"chapter_id":6,"order":14,"slug":"what-is-the-metaverse","title":"Metaverse: A New Perception of Reality","status":"published","modified_content":null}]},{"id":7,"title":"Trading & Investing","slug":"trading-and-investing","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-trading.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-trading-101.jpg","rating":80,"sections":[{"chapter_id":7,"order":1,"slug":"where-to-trade-crypto","title":"Where Can You Trade Cryptocurrencies?","status":"published","modified_content":null},{"chapter_id":7,"order":2,"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","status":"published","modified_content":null},{"chapter_id":7,"order":3,"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","status":"published","modified_content":null},{"chapter_id":7,"order":4,"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","status":"published","modified_content":null},{"chapter_id":7,"order":5,"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","status":"published","modified_content":null},{"chapter_id":7,"order":6,"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","status":"published","modified_content":null},{"chapter_id":7,"order":7,"slug":"what-is-a-perpetual-contract","title":"Perpetual Contracts: Futures Contracts Without an Expiration Date","status":"published","modified_content":null},{"chapter_id":7,"order":8,"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","status":"published","modified_content":null},{"chapter_id":7,"order":9,"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","status":"published","modified_content":null},{"chapter_id":7,"order":10,"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","status":"published","modified_content":null},{"chapter_id":7,"order":11,"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","status":"published","modified_content":null},{"chapter_id":7,"order":12,"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","status":"published","modified_content":null}]},{"id":8,"title":"Crypto 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current-chapter="D"
current-section="what-is-distributed-consensus">
