Comparison of Acclaimed Consensus Algorithm

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  • The usage of cryptocurrencies is gaining momentum with the mainstream economists, and so is the underlying blockchain technology. Blockchain is a distributed digital ledger, where peer-to-peer network validates the transactions using consensus algorithms. More than cryptocurrencies, blockchain technology will be substantially involved in financial services, healthcare, government services, and the Internet of Things where there are digital
    transactions that require authentication and validation. Blockchain technology helps to maintain the records in a decentralized manner without compromising the veracity of the records in it. Currently, there are over fifteen consensus algorithms to implement blockchain technology, and the list is only growing every year. (As cited in abstract.)

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    Attribution-NonCommercial 4.0 International