the Nakamoto Consensus

Nakamoto Consensus is a method used in cryptocurrencies like Bitcoin to agree on the state of a shared ledger without a central authority. It relies on proof-of-work: participants (miners) compete to solve complex puzzles, and the first to find a solution adds a new block of transactions to the chain. This process makes it extremely costly to alter past transactions, ensuring security and trust. The longest valid chain is considered the true record, as it reflects the most computational effort, maintaining consensus across the network in a decentralized and secure manner.