Blockchain Consensus Mechanisms
Blockchain Consensus Mechanisms

Blockchain Consensus Mechanisms

Getting everyone's approval for a single modification in a decentralized network like blockchain sounds laborious. Obviously, it is! Even yet, it can be challenging to obtain the complete agreement of all network participants, but people were able to achieve so by establishing governance. Blockchain has its own difficulties as it battles the monarchy governed by titans. One of the biggest challenges is coming to a worldwide consensus or agreement.


PoC - Proof of Capacity

12 Mar 2023 1 minute read 0 comments sevohevo

Hard disk space is employed as part of the Proof of Capacity (PoC) consensus process, a novel technique for verifying transactions in cryptocurrency mining. PoC is gaining popularity as a substitute for the energy-intensive Proof of Work (PoW) mining...

PoET - Proof of Elapsed Time

8 Mar 2023 2 minute read 0 comments sevohevo

Several sectors have been transformed by blockchain technology, which provides safe, decentralized networks that can thwart fraud and hacking. Blockchain networks need a consensus mechanism, nevertheless, in order to validate transactions and add new...

PoA - Proof of Authority

7 Mar 2023 1 minute read 0 comments sevohevo

Blockchain technology has grown in acceptance across a number of sectors recently. One of blockchain's distinguishing characteristics is its consensus mechanism, which is a procedure used to make sure that all network nodes concur on the ledger's cur...

PoI - Proof of Importance

6 Mar 2023 2 minute read 0 comments sevohevo

Blockchain technology uses the Proof of Importance (PoI) consensus process to provide a shared understanding of the network's state. In 2008, Satoshi Nakamoto unveiled Bitcoin, the first blockchain-based program. Since then, blockchain technology has...

PoB - Proof of Burn

5 Mar 2023 1 minute read 0 comments sevohevo

Proof of Burn: An Energy-Efficient Alternative to Proof of Work A consensus algorithm called Proof of Burn (POB) has evolved as a substitute for the energy-guzzling Proof of Work (POW) algorithm employed by well-known cryptocurrencies like Bitcoin an...

DPoS - Delegated Proof of Stake

4 Mar 2023 1 minute read 0 comments sevohevo

Delegated Proof of Stake (DPoS) is a consensus mechanism used in blockchain technology to keep the network synchronized. It is an improvisation of the Proof of Stake (PoS) consensus mechanism, and it works as an additional layer of voting to the tra...

Proof of Stake VS. Proof of Work (PoS vs. PoW)

4 Mar 2023 1 minute read 2 comments sevohevo

In recent years, cryptocurrencies have grown in popularity, and the technology that underpins them, Blockchain, has gained a lot of attention in the financial and technological industries. The consensus techniques Proof of Work (PoW) and Proof of St...