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What is a Blockchain Consensus Algorithm?

THIS COURSE WILL LET YOU:

  • Learn about blockchain
  • Learn about consensus algorithm
  • Deepen your knowlegde in cryptocurrencies
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Proof of work (PoW)

Proof of Work (PoW) is the godfather of blockchain consensus algorithms. It was first implemented in Bitcoin, but the actual concept has been around for some time. In Proof of Work, validators (referred to as miners) hash the data they want to add until they produce a specific solution.

Proof of stake (PoS)

In the beginning, Proof of Stake (PoS) was suggested as a Proof of Work substitute for Bitcoin. A PoS system doesn't have the idea of miners, specialized equipment, or high energy usage. All you require is a standard PC.

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