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What's a "tokenized ledger-based distributed consensus mechanism" in plain English?


i was thinking of algorand, personally.. but all cryptocurrencies are

1. tokenized: we care about moving 'units' of 'value' between 'accounts'

2. ledger-based: having an immutable record of previous state changes

3. distributed: progression of state is determined by many participants who may not share a common goal

4. consensus mechanism: this is what the system gives us: a set of rules which if followed allow parties to agree on the contents of the ledger.


We tend to call this "blockchain", but it's a bit of an overloaded, abused and misunderstood term so it can help to be specific.




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