What is BABE Consensus Mechanism (Polkadot)?

The Blind Assignment for Blockchain Extension (BABE) is one of the two central components of the hybrid consensus mechanism that Polkadot utilizes to secure and maintain its network. BABE is a mechanism for producing blocks, while its counterpart, GHOST-based Recursive Ancestor Deriving Prefix Agreement (GRANDPA), is a mechanism for finalizing the state of the blockchain.