Protocols

Protocols, in the context of blockchain, refer to a set of rules, standards, and guidelines that govern how participants interact with each other within a network. Blockchain protocols define the consensus mechanism, transaction validation process, governance rules, and other key aspects of the network. They provide a framework for ensuring the secure and decentralized operation of the blockchain, enabling participants to transact, communicate, and cooperate effectively. Examples of blockchain protocols include Bitcoin's protocol for transferring and verifying transactions, Ethereum's protocol for executing smart contracts, and various other protocols designed for specific use cases and applications.