Kariuki Njiru

Some consensus mechanisms in blockchains. Proof of Work (PoW) - Miners solve puzzles to add blocks. Proof of Stake (PoS) - Validators stake coins to add blocks. Delegated Proof of Stake (DPoS) - token holders vote on a select number of delegates who will secure the network Proof of Authority (PoA) - trusted validators confirm transactions quickly. Proof of Space (PoSpace)/Proof of Capacity (PoC) - validators prove they allocate unused disk space to the network to participate in the consensus process Proof of Elapsed Time (PoET) - each participant in the network waits for a randomly distributed amount of time and the first to complete the waiting time wins the new block. Used primarily in permissioned blockchain networks. Proof of Burn (PoB) - burn coins to earn right to validate blocks Proof of Activity (PoA) - combines mining and staking mechanisms. Proof of History (PoH) - validates time sequence of events Proof of Importance (PoI) - similar to PoS, but also takes into consideration a user's overall participation in the network, like transaction frequency and wallet balances Proof of Stake Velocity (PoSV) - rewards holding and transacting tokens Byzantine Fault Tolerance (BFT) - ensures agreement despite faulty nodes