Process algebra is an abstract description for nondeterministic and concurrent systems that focuses on transitions rather than states. It uses concepts like actions, agents, parallel composition, and restrictions to model systems. Two process algebra models are equivalent if they satisfy the same properties in terms of traces, failures, simulations, or bisimulations. Bisimulation establishes the strongest equivalence and requires that models can simulate each other through all possible transitions and sequences of actions. An algorithm can be used to check if two models are bisimilar by partitioning their state spaces based on transitions.