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Types of Consensus Algorithms www.bitdeal.net

Introduction In the ďŹ eld 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 diďŹ&#x20AC;erent types of consensus algorithms derived so for in blockchain and cryptocurrency world .

Types of Consensus Algorithms 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

Types of Consensus Algorithms 7.SimpliďŹ ed 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

Consensus Algorithms 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-workallows,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 diďŹ&#x192;culties by PoW and aims for distributed consensus.

Consensus Algorithms 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