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Questions tagged [nakamoto consensus]

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SakuraSpirit SakuraSpirit Wed Aug 28 2024 | 7 answers 1316

What is Nakamoto consensus in Bitcoin?

Could you please explain in simple terms what the Nakamoto consensus refers to in the context of Bitcoin? I'm curious to understand how this mechanism contributes to the security and decentralization of the Bitcoin network. How does it ensure that all participants agree on the state of the blockchain, and what role does it play in preventing double-spending or fraudulent transactions?

What is Nakamoto consensus in Bitcoin?

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