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NewsBTC 2021-11-24 09:58:35

The Consensus Mechanism within Clover Finance

If you are curious about Clover Finance, you are not alone! Now listed on Coinbase, Clover Finance is no longer just a new player in the space, it’s a leading name in the DeFi space. In fact, Clover Finance is leading the interoperability phase for decentralized finance, bringing blockchain together to grow not only the Clover ecosystem, but increase the user-friendliness of DeFi and crypto as a whole. Here is a breakdown of how this revolutionary new platform actually works: Clover Finance and its Consensus Mechanism: First of all, let’s break down blockchain. A blockchain is a system of recording information in a manner that makes it extremely difficult to change, hack, or cheat the network. Essentially the blockchain is a complex, fancy and way cooler version of a database of transactions. Instead of being stored in one place, copies of this database are distributed across an entire network of computers over the internet. They are connected with each other, but are not run by a central control point. Instead, they are decentralized and they follow exact rules in working with each other to keep the blockchain secure, decentralized and protected from bad actors. They also need an agreed upon way to deal with a single data value or a single state of the network. This is known as a consensus mechanism. Polkadot provides scaling solutions through parachains. Its blockchain framework, Substrate, is ideal for building bridges betw...

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The Consensus Mechanism within Clover Finance

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