Collective agreement by various computers in a network that allows it to work in a decentralized, P2P manner without the need of central authority to deter dishonest network participants.
Distributed Consensus
Related Terms
-
Ethereum is a decentralized, open-source, and distributed computing platform that enables the creation of smart contracts and decentralized applications, also known as dapps. Ethereum, or the Ethereum Virtual Machine (EVM), is an attempt to build a new version of the internet: An internet where money and payments are built-in. An internet where users can own […]
-
A central bank is an organization that manages the currency of a country or group of countries and controls the money supply. Central banks, also called reserve banks, came into being because their...
-
The European Central Bank (ECB) is the central bank that oversees monetary policy of the eurozone. The eurozone is a geographic and economic region that consists of all the European Union (EU)...
-
Forward guidance is a tool used by a central bank to try and influence market expectations of future levels of interest rates. “Forward guidance” in monetary policy means providing some information...
-
A repurchase agreement (“repo”) is a short-term secured loan: one party sells securities to another and agrees to repurchase those securities later at a higher price. The securities serve as...