Types of Blockchain Consensus Algorithms



In the field of computer science , to solve the consensus problems there are several proposed protocols which are termed as consensus algorithms . Consensus Algorithms are mechanisms  used to achieve agreement on a single data value over distributed systems. 

 To know more about consensus algorithms ,read this blog : Blockchain Consensus Algorithms 

 Now , let us have look at the different types of consensus algorithms derived so for in blockchain and cryptocurrency world .

 The following are the various consensus algorithms in blockchain technology :

 1.Proof-of-Work
2.Proof-of-Stake
3.Delegated Proof-of-Stake
4.Leased Proof-Of-Stake
5.Proof of Elapsed Time
6.Practical Byzantine Fault Tolerance
7.Simplified Byzantine Fault Tolerance
8.Delegated Byzantine Fault Tolerance
9.Directed Acyclic Graphs
10.Proof-of-Activity
11.Proof-of-Importance
12.Proof-of-Capacity
13.Proof-of-Burn
14.Proof-of-Weight

 Proof-Of-Work ( PoW ) 

 A Proof-of-Work is a measure of  DoS attack and other service abuses which includes spam on a network by requiring some work from the service requester. It most involves a lot of computational power .Proof-of-work- allows,solving of computationally intensive puzzles to validate transactions and create new blocks.

 Proof-Of-Stake ( PoS)

 Proof of Stake chooses the miners of the next block or individual who validate next transaction by their coin possession. This consensus algorithm introduced for dealing with the difficulties by PoW and aims for distributed consensus.

 Delegated Proof-Of-Stake ( DPoS )

 Delegated Proof of Stake is a variation of the proof of stake. Here, the miners or Validators, are known as delegates. Determination of block production, makes this system transaction within just a second. DPos system was designed to ensure all level of protection against regulatory issues.

 To know about other types in detail with informative infographics , just read the article :  Blockchain Consensus Algorithms & Mechanisms : Explained

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