consensus mechanism

Consensus mechanisms are the various ways in which blockchains confirm transactions – how they reach consensus. The most prominent consensus mechanisms are include Proof of Work (e.g BTC, XMR, LTC), Proof of Stake (e.g. XLM, BNB, DASH), Delegated Proof of Stake (e.g. EOS, TRX, ADA), and Directed Acyclic Graph (IOTA, ITC). Some are more decentralized than others, but this decentralization often comes at the expense of speed.