Consensus algorithms updated (draft) - Feedback requested

in #blockchain9 months ago

Different_Consensus_Algorithms.png

I like this picture, but when reading the descriptions, I got very confused.
I think some descriptions are misleading, so I updated the below table.
Any feedback?

Proof-of-Work

Blocks with transactions are confirmed by energy intensive mining. The native token reward in return for energy usage incentivices honest behaviour

Proof-of-Stake

Blocks are confirmed by nodes withthat stake their tokens. The native token reward incentivices honest behaviour.

Proof-of-Activity

Hybrid version of PoW (mminers) and PoS (validators), rewards are split between both

Proof-of-Importance

New blocks are confirmed by nodes with a higher importance score that takes overal support to the network into account

Proof-of-Capacity

Blocks are confirmed by nodes in proportion to the hard drive space. Larger hard drives increase chances to win the reward

Proof-of-Burn

Blocks are confirmed by miners that show proof that they send coins to a verifiably unspendable addres

Proof-of-Weight

A weight is allocated to accounts depending on the amount of tokens. Higher

Delegated Proof-of-Stake

POS with the possibility for users to delegate their tokens in return for a percentage of rewards

Leased Proof-Of-Stake

POS with the possibility for users to Lease their tokens to full nodes in return for a perecntage of rewards

Bonded Proof of Stake

POS with optional delegation and increased punishments for fraudulent behavior

Liquid Proof of stake

POS with a more dynamic set of validators

Pure Proof of stake

POS, with block rewards porportionate to account balances and with separation of keys for spending and block confirmation

Proof of Elapsed Time

New transactions are confirmed by validators that are stochastically chosen, similar to a lottery

Practical Byzantine Fault Tolerance

Consensus by trusted nodes without a leader or center, nodes verify each others reliability. Requires a minimum of 2/3 of hones nodes.

Simplified Byzantine Fault Tolerance

One designated block generator collects and validates proposed transactions, periodically batching them together into a new-block proposal

Delegated Byzantine Fault Tolerance

Participants elect trusted nodes that reach agreement on the blockchain through majority voting.

Directed Acyclic Graphs

Consensus is reached on a transaction-by-transaction basis by other participants that execute transactions