Term of the Moment

cross assembler


Look Up Another Term


Redirected from: blockchain algorithm

Definition: blockchain protocol


The formats, codes and procedures that govern how computers (nodes) in a blockchain network interact with each other and with crypto wallets, crypto exchanges and decentralized apps (dApps). The primary blockchain protocol that governs the heart of its operation is the "consensus mechanism," which enables a majority of active nodes to agree that the next block of transactions is the rightful block. See consensus mechanism, 51% consensus and crypto glossary.