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    Crypto Conversations: Consensus mechanisms beyond Proof of Work and Proof of Stake

    PoW and PoS are the most common consensus mechanisms. But what exactly are consensus mechanisms? And how far does their potential extend beyond PoW and PoS?  

    Saudamini Chandarana Bhat
    May 25, 2022 / 09:12 AM IST
    Crypto Conversations: Consensus mechanisms beyond Proof of Work and Proof of Stake

    (Representative Image)

    Blockchain technology has changed the world in unprecedented ways. Extending beyond the scope of cryptocurrencies, blockchain is now disrupting sectors all around the world.    Consensus algorithms are one of the most important components in understanding everything about blockchain. Everything from network security and confirmation speed to environmental friendliness is determined by it. Although Proof-of-Work and Proof-of-Stake are the most well-known consensus mechanisms, the blockchain ecosystem is powered by a variety of different consensus methods.    Let’s take a closer look at...

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