BLOCKCHAIN: Want to know more about Consensus Algorithms? A (Short) Guide to Blockchain Consensus Protocols..!!

in blockchain •  9 months ago

BLOCKCHAIN CONSENSUS PROTOCOLS

Credit:coindesk


Want to know more about Blockchain Consensus Protocols? This is a brilliant article and well worth reading.

Digital Distributed Ledger Technology (Blockchain) in its basic form is simply a Consensus Algorithm managing stored data on a shared network of computers.

I was scanning my news feeds earlier and came across this article published today by Coindesk.

It is a fantastic article and credit to Coindesk for the extensive content.

http://www.coindesk.com/short-guide-blockchain-consensus-protocols/

Credit:coindesk

Credit:coindesk


The article goes on to explain..

  • Proof of work
  • Proof of stake
  • Proof of activity
  • Proof of burn
  • Proof of capacity
  • Proof of elapsed time

The future will see Consensus Algorithms rise in various forms but the basics will remain intact and that is one of a Decentralised Environment to manage and share data.

Once again this is a fantastic article, well researched and presented.

Articles like this helps you to start building a picture of the way in which data is set to be managed in the future.


Thanks again for reading.

Stephen

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Thank you. I come across hundreds of great Blockchain articles and I thought this one was especially great. It was to good not to share. Thanks for the support. Stephen