Blockchain Solutions (1)

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Title: Blockchain Solutions (1)

1
CONSENSUS ALGORITHM - A HERITAGE TO THE
BLOCKCHAIN ECOSYSTEM

3
Why Consensus Algorithm?

As a known fact, a blockchain network is of
distributed architecture. Usually, the nodes of a
blockchain network are autonomous (I.e,
independent to each other) and to maintain data
consistency, it is more vital to collaborate the
nodes with each other. Henceforth, the consensus
enables nodes coordination and attain database
consistency in the blockchain network..
As a matter of fact, a consensus algorithm
furnishes systems security and reliability. To
secure a blockchain system, a consensus algorithm
should be spirited to these following attacks.
1. 51 attack
2. Denial of Service (DoS) attack
3. Byzantine faults

4. Sybil attack
To protect, detect and resolve the faults and
attacks happen in the blockchain network,
consensus algorithm is obligatory.
Categories of Consensus Algorithm
The consensus algorithm comes with 14 categories
to facilitate the humans. They are the following
(i) Proof of Work (PoW)
In proof of work, the miners or the
supercomputers have to figure out complex
problems or puzzles when a transaction is
initiated by the user to verify it.

(ii) Proof of Stake (PoS)
In the Proof of Stake concept, the user has to
spend his/her coins to mine or validate new
block.
(iii) Delegated Proof of Stake (DPoS)
DPoS is identical to PoS, but the user need to
expend more coins to vote or elect witnesses.
(iv) Leased Proof of Stake (LPoS)
The user can build customized tokens and attain
benefit from it through the coin lease to the
network.

(v) Proof of Activity (PoA)
This algorithm utilizes both PoW and PoS, to
integrate the best of two features for fine
validation solution.
(vi) Proof of Importance (PoI)
When an user often sends and receive
transactions, they will be rewarded with some fee
for it.
(vii) Proof of Capacity (PoC)
With this protocol, it is simple to utilize the
hard drive of the users capacity

(viii) Proof of Burn (PoB)
Users sends the coin back into the Eater Address,
the wallet that they cant recover coin from, and
get reward based on the amount.
(ix) Proof of Weight (PoWeight)
Similar to the PoS, but the contrast is that
PoWeight depends on certain constituent called
weights.
(x) Proof of Elapsed Time (PoET)
It is identical as PoW, rather than that it
focuses more on the consumption.
(xi) Practical Byzantine Fault Tolerance (PBFT)
It focuses on the state machine. The byzantine
utilizes certain sequence to have the rouge users
at bay.

(xii) Simplified Byzantine Fault Tolerance (SBFT)
Here, the validator can aggregate the proposed
transactions and build a new block.
(xiii) Delegated Byzantine Fault Tolerance (DBFT)
Among the professional node controllers, it
mainly focuses on the gamified way to verify a
block.
(xiv) Directed Acyclic Graphs (DAG)
DAGs can handle the transactions asynchronously
without having a blockchain data structure.

9
Consensus as a Boon Algorithm