Consensus mechanism
The rules and procedures by which an agreement is reached, among DLT network nodes, that a transaction is validated.
See also the following definitions:
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DLT, which means a technology that enables the operation and use of distributed ledgers.
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Distributed ledgers, which means an information repository that keeps records of transactions and that is shared across, and synchronised between, a set of DLT network nodes using a consensus mechanism.
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DLT network node, which means a device or process that is part of a network and that holds a complete or partial replica of records of all transactions on a distributed ledger.
As defined in the MiCA Regulation.
UpdatedApr 21, 2023