Understanding different Consensus Mechanisms

Understanding different Consensus Mechanisms

A Consensus mechanism can be defined as a process where all the nodes abide by the same rules or protocols. These consensus mechanisms are very important for a blockchain network to function properly.

Proof of Authority

12 Jun 2020 3 minute read 3 comments Ruma

The Blockchain industry is continuously progressing since its inception. The consensus mechanism is the core of a decentralized ecosystem that helps it to achieve consensus in the network. Till now, many consensus methods have been invented and imple...

Proof Of Stake

12 May 2020 4 minute read 4 comments Ruma

In my previous article, I have covered one of the most famous consensus mechanism i.e Proof of Work. But like any technology, that protocol also has a certain drawback, and to overcome these issues another protocol has been developed i.e Proof Of Sta...

Understanding different Consensus Mechanisms

9 May 2020 5 minute read 0 comments Ruma

The BlockChain network consists of a series of nodes that form a distributed architecture. These nodes need to be aligned and run synchronously to maintain security in the network. Thus the concept of Consensus is devised to maintain harmony in the b...

Proof Of Work Explained

9 May 2020 4 minute read 5 comments Ruma

A proof-of-work (PoW) system (or protocol, or function) is a consensus mechanism that was first invented by Cynthia Dwork and Moni Naor as presented in a 1993 journal article. In 1999, it was officially adopted in a paper by Markus Jakobsson and Ari...