Consensus (consensus mechanism)
The consensus mechanism is the rulebook by which thousands of computers agree, without a boss, on which entries are valid.
Explained simply
If many computers keep the same ledger, it must be clear who may write the next page and what happens when two versions circulate. The consensus mechanism settles that.
The two best-known methods: proof of work (computing effort as the ticket to participate, Bitcoin) and proof of stake (deposited capital as the ticket, Ethereum). Both make honest behaviour rewarding and fraud expensive.
From the familiar world
An owners' meeting without a property manager: there is a fixed voting procedure, everyone knows it, and a resolution only counts once the required majority is reached. The consensus mechanism is that voting procedure, automated and repeated every few minutes.
An example
In 2022 Ethereum switched its consensus mechanism from proof of work to proof of stake while running ("The Merge"). The network's electricity consumption fell by more than 99 percent as a result.
Why it matters
The consensus mechanism determines a network's security, energy demand and speed. Anyone who can answer "Why does Bitcoin use so much electricity?" has grasped the core.
To pass on
„Consensus is the network's voting procedure: it is how thousands of machines agree without anyone being in charge.“
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