Consensus algorithms

- [Narrator] As one of the key components of blockchain technology, knowledge of consensus algorithms is essential for blockchain developers. Consensus algorithms are used to maintain the integrity and security of a blockchain network by ensuring that all nodes agree on the state of the ledger. In a blockchain network, consensus is achieved when all nodes in the network agree on the validity of a transaction or block. There are various consensus algorithms used in blockchain technology and developers must have a good understanding of the different types and their strengths and weaknesses, in order to choose the right one for their application. Proof of work, for example, is a highly secure consensus algorithm used by Bitcoin, but it's also highly energy intensive. While proof of stake is a more energy efficient algorithm used by Ethereum. Developers must also understand how to implement and configure consensus algorithms…