In this book, we have presented two consensus algorithms: Proof-of-Work, and Proof-of-Elapsed Time:
As we learned, consensus algorithms need to be suitable for the ecosystem they support. And there is a big difference between what is suitable for an open permission-less public blockchain, such as Bitcoin and Ethereum, and a private permissioned blockchain framework such as Hyperledger. The difference stems from the need for trust in the system, or lack thereof. Different levels of trust call for different consensus algorithms. Therefore Proof-of-Work is suitable for Bitcoin and Ethereum, but Proof-of-Elapsed Time is not. On ...
