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Author Topic: What are the most popular consensus?  (Read 91 times)
yakust
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September 05, 2018, 10:35:29 AM
 #1

Hi everyone. I know about Proof-of-Work, -Stake, -Capacity and some others. I've heard some of them are implemented in different projects. Are there any alternative and popular consensus approaches?
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butka
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September 05, 2018, 10:51:51 AM
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Here is a list based on the book Mastering Blockchain (you mentioned the first two):

Proof of Work - based on users having spent computational resources
Proof of Stake - based on users owning enough stakes in the system
Delegated Proof of Stake - based on voting, which is based on stakes owned
Proof of Elapsed Time - Hyperledger technology, not sure how it works
Deposit-based consensus - based on security deposits
Proof of importance - like PoS but how the users use their coins also comes into play
Federated consensus - publicly trusted validators decide on the consensus
Reputation-based mechanisms - electing a leader based on reputation
AdolfinWolf
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September 05, 2018, 06:09:29 PM
 #3

Here is a list based on the book Mastering Blockchain (you mentioned the first two):

Proof of Work - based on users having spent computational resources
Proof of Stake - based on users owning enough stakes in the system
Delegated Proof of Stake - based on voting, which is based on stakes owned
Proof of Elapsed Time - Hyperledger technology, not sure how it works
Deposit-based consensus - based on security deposits
Proof of importance - like PoS but how the users use their coins also comes into play
Federated consensus - publicly trusted validators decide on the consensus
Reputation-based mechanisms - electing a leader based on reputation


Additional mechanisms that you haven't yet listed.

Proof of Burn
Practical Byzantine fault tolerant Mechanism
Proof of Identity
They're explained in the article. I've never heard about them before. Sounds pretty interesting.


This article also explains 4 other (Which i think are) consensus mechanisms.

9. Direct Acyclic Graphs (DAGs)
4. Proof of Activity
3. Proof of Capacity
2. Proof of Authority (PoA)

I have no clue if these are even applicable in cryptocurrencies at all. Some if not most of them sound pretty far-fetched.


Davil
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September 05, 2018, 06:44:46 PM
 #4

Here is a list based on the book Mastering Blockchain (you mentioned the first two):

Proof of Work - based on users having spent computational resources
Proof of Stake - based on users owning enough stakes in the system
Delegated Proof of Stake - based on voting, which is based on stakes owned
Proof of Elapsed Time - Hyperledger technology, not sure how it works
Deposit-based consensus - based on security deposits
Proof of importance - like PoS but how the users use their coins also comes into play
Federated consensus - publicly trusted validators decide on the consensus
Reputation-based mechanisms - electing a leader based on reputation


Additional mechanisms that you haven't yet listed.

Proof of Burn
Practical Byzantine fault tolerant Mechanism
Proof of Identity
They're explained in the article. I've never heard about them before. Sounds pretty interesting.


This article also explains 4 other (Which i think are) consensus mechanisms.

9. Direct Acyclic Graphs (DAGs)
4. Proof of Activity
3. Proof of Capacity
2. Proof of Authority (PoA)

I have no clue if these are even applicable in cryptocurrencies at all. Some if not most of them sound pretty far-fetched.



WOW! I only knew about POW and POS but I see that there are a lot of different mechanisms totally new for me.

A good place to start investigating from, let's take a look at all those different consensus mechanisms (I'll have to read Mastering Blockchain I see to start with the topic Cheesy). Thanks for sharing and great answers all the ones above.

yakust
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September 06, 2018, 05:59:05 AM
 #5

Thanks for the lists and the links.
Planeparke
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September 06, 2018, 08:58:39 AM
 #6

DAG, Direct Acyclic Graph is the most unique, in my opinion.
And it's also the most neutral.
avivsun
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September 06, 2018, 12:59:00 PM
 #7

Hi everyone. I know about Proof-of-Work, -Stake, -Capacity and some others. I've heard some of them are implemented in different projects. Are there any alternative and popular consensus approaches?

Check this infographic


Credits 101Blockchains.com
yakust
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September 07, 2018, 07:20:06 AM
 #8

Check this infographic

Now that's something amazing. Thanks.
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