Blockchain Algorithms - PowerPoint PPT Presentation

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Blockchain Algorithms

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Consensus Algorithms is the source that fuels a blockchain to be a decentralized one in nature – PowerPoint PPT presentation

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Title: Blockchain Algorithms


1
Blockchain Algorithms
  • www.bitdeal.net

2
Types of Blockchain Algorithms
  • Blockchain algorithms differ from one blockchain
    to another blockchain .Let us look at the
    different Consensus algorithms that are derived
    so far.
  • The following are the various consensus
    algorithms in blockchain technology
  • 1.Proof-of-Work
  • 2.Proof-of-Stake
  • 3.Delegated Proof-of-Stake
  • 4.Leased Proof-Of-Stake
  • 5.Proof of Elapsed Time

3
  • 6.Practical Byzantine Fault Tolerance
  • 7.Simplified Byzantine Fault Tolerance
  • 8.Delegated Byzantine Fault Tolerance
  • 9.Directed Acyclic Graphs
  • 10.Proof-of-Activity
  • 11.Proof-of-Importance
  • 12.Proof-of-Capacity
  • 13.Proof-of-Burn
  • 14.Proof-of-Weight

4
Proof Of Work
  • A Proof-of-Work is a measure of DoS attack and
    other service abuses which includes spam on a
    network by requiring some work from the service
    requester. It most involves a lot of
    computational power .Proof-of-work-
    allows,solving of computationally intensive
    puzzles to validate transactions and create new
    blocks.
  • Cryptocurrency that uses PoW Bitcoin uses PoW
    consensus algorithms. Ethereum too used PoW for
    nearly 4-blockchain projects and then moved on to
    PoS.

5
Proof Of Stake
  • Proof of Stake chooses the miners of the next
    block or individual who validate next transaction
    by their coin possession. This consensus
    algorithm introduced for dealing with the
    difficulties by PoW and aims for distributed
    consensus.
  • Proof Of Elapsed Time (PoET)
  • Proof of elapsed time (POET) is a blockchain
    consensus algorithm that uses a particular tactic
    to prevent high resource utilization and huge
    energy consumption. This keeps the permissioned
    blockchain network by following a fair lottery
    system.

6
  • Proof-Of-Activity ( PoA )
  • Proof of activity is an approach that mixes the
    two commonly used algorithms proof of work (POW)
    and proof of stake (POS).Proof-of-Activity. It
    combines the best two features of both
    algorithms, more secured against any attack and
    not a not power-hungry system.
  • Proof-Of-Importance ( PoI )
  • Proof-of-importance is a blockchain consensus
    algorithm that proves the utility of nodes in a
    network which allows them to create a block by a
    process called New Economy Movement (NEM).

7
Bitdeal
  • We Bitdeal, Leading Blockchain Development
    Company can help you in building a blockchain
    with best Consensus Algorithm that best suits for
    your Private blockchain network . Our Blockchain
    experts often undergoes R D process and always
    finds the best algorithms out of choices to
    develop a blockchain network.
  • Get a free consultation from Bitdeal Now !!!
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