December 2018
Beginner to intermediate
564 pages
17h 34m
English
Content preview from Blockchain Developer's Guide
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Consensus
Consensus is the process of reaching a general agreement among nodes within a blockchain. There are various algorithms available for this especially when it is a distributed network and an agreement on a single value is required.
Mechanisms of consensus: Every blockchain has to have one mechanism that can handle various nodes present in the network. Some of the prime mechanisms for consensus by blockchain are the following:
- Proof of Work (PoW): This is the most commonly used consensus mechanism, also used by the first ever cryptocurrency, Bitcoin. This algorithm has proven most successful against Sybil attacks.
- Proof of Stake (PoS) this makes the mining of new blocks easier for those who have the highest amount of cryptocurrency. ...
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