The Tech Quiz - Season 31

Hello everyone,
It's your favorite Steemian @rakiya from Nigeria and I'm delighted to join in this contest organized by @malikusman1 in this noble community today. It's a wonderful contest and I love to share my participation in it.

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What is consensus mechanism?

When we talk about consensus mechanism we are talking about a distributed ledger which has to do with the blockchain technology. Distributed ledger refers to the interconnection of computers or nodes which share information.

Now the term consensus mechanism refers to a situation where all the nodes in a blockchain comes into an agreement before a transaction can be recorded. This means that before a transaction will be recorded in the blockchain it passes through the consensus mechanism which is the agreement between the various nodes connected together.

This is done this way to avoid discrepancy in transaction. So each connected node must confirm and agree with each other before the record of the transaction will be added to the blockchain as this is immutable. So making mistkat while doing this is not allowed.

Share some popular consensus mechanisms

There are many consensus mechanism in use today based on the blockchain technology but the few I'm most familiar with are as follows;

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• Proof of Work (PoW)
• Proof of Stake (PoS)
• Delegated Proof of Stake (DPoS)

All the above mention consensus mechanism function differently but their aim and goal still remain the same and that is ensuring that as many node as possible validate the transaction before it is added to the blockchain.

Proof of Work (PoW) is a consensus mechanism that has to do with solving of complex mathematics by the nodes to validate transactions. Proof of Stake (PoS) on the other hand requires user to stake their asset and become part of those responsible to validate transaction. Finally the DPoS is a mechanism that allows users to vote for validators.

On which consensus does BTC work?

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Bitcoin works on the Proof of Work (PoW) consensus mechanism. As I have explained earlier, this consensus mechanism involves solving complex mathematical puzzle to validate a transaction before it can be added to the block as a new block.

So many people are always available to fight for the reward here and as many nodes as possible must validate the answer before they can be added. So the person who solves it first gets the reward. It is called the miners reward. While Bitcoin use PoW, Steem uses the DPoS mechanism.

I invite
@solaymann
@lhorgic
@jasminemary