The consensus algorithm is a method used in blockchain technology to achieve agreement on a single data value or state of the system among distributed processes or nodes. It helps ensure that all nodes in a decentralized network come to an agreement on the validity of transactions and the order in which they are added to the blockchain. Different consensus algorithms, such as Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS), have been developed to address various challenges and requirements in blockchain networks.
