Today, we all know the importance of blockchain consensus algorithms because consensus is the heart of the blockchain network and everyone known about the crypto coins like Bitcoin and Ethereum both use PoW (Proof-of-Work) for their consensus algorithm. Most of the coin are developed based on the various kind of consensus algorithms & mechanism.
A cryptocurrency’s consensus algorithm is important to its functionality but have you ever think why, or more primarily, how? Or do you want to know which consensus algorithms & mechanisms suit your crypto coin development project? Well, different types of blockchain consensus algorithms come into play the main role in coin creation platform. Want to know what is that? Let’s go over the various kinds of consensus algorithms which play a big role in this crypto era.
List of All Consensus Algorithms
- Proof-of-Work
- Proof-of-Stake
- Delegated Proof-of-Stake
- Leased Proof-Of-Stake
- Proof of Elapsed Time
- Practical Byzantine Fault Tolerance
- Simplified Byzantine Fault Tolerance
- Delegated Byzantine Fault Tolerance
- Directed Acyclic Graphs
- Proof-of-Activity
- Proof-of-Importance
- Proof-of-Capacity
- Proof-of-Burn
- Proof-of-Weight
We will discuss how they differ from one another later,
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