introduction

This is my attempt to list all possible blockchain consensus out there, I welcome pull request of the blockchain community! let's make it the main reference for blockchain consensus. Visit also Tokens-Economy.com to keep track of new developments in the distributed ledger technology space.

Blockchain Consensus?

At the core of the Blockchain disruption is a consensus algorithm:

Consensus algorithms enable network participants to agree on the contents of a blockchain in a distributed and trust-less manner.

“Consensus decision-making is a group decision-making process in which group members develop, and agree to support a decision in the best interest of the whole. Consensus may be defined professionally as an acceptable resolution, one that can be supported, even if not the “favourite” of each individual. Consensus is defined by Merriam-Webster as, first, general agreement, and second, group solidarity of belief or sentiment.” Wikipedia

And the consensus algorithm plays a crucial role in maintaining the safety and efficiency of the blockchain. Using the right algorithm may bring a significant increase to the performance of blockchain application.

The trilemma claims that blockchain systems can only at most have two of the following three properties:

  1. Decentralization (defined as the system being able to run in a scenario where each participant only has access to O(c) resources, i.e. a regular laptop or small VPS)
  2. Scalability (defined as being able to process O(n) > O(c) transactions)
  3. Security (defined as being secure against attackers with up to O(n) resources)

Each consensus algorithm has its own application scenario. There is no absolute good or bad. The choice of which consensus to use for implementing the blockchain depends on the type of network and data.

For a transaction to be valid on most cryptocurrency networks, the transaction needs to collect a certain number of confirmations (often equals to an inclusion in a block of a blockchain) from the network. E.g 10 confirmations mean to see a specific transaction in one block and 9 consecutive blocks.

Visit now https://consensus.tokens-economy.com/ 

You might like also

#ALPINE-HACK19 4 – 5 October, 2019
On October 4th and 5th, the AlpineHack19 will be held, a blockchain-themed hackathon. The opportunity to bring together software developers, hackers, information technology enthusiasts and SMEs to showcase their know-how. The aim for the participants is to develop a functioning open-source software or #hardware prototype – solutions that eliminate real problems, for real companies. #Blockchain Technology will be the center of all predefined challenges. 24 hours of #Innovation, personal development and lots of fun. I will be there as hackathon mentor …
80 Days ago
CryptoMountain Rocks in Sion 3-5 october 2019
CryptoMountain Rocks is a platform for Blockchainers from the Crypto Valley and beyond that offers a very inter-active conference with presentations, panels and talks battles. I will be there 3 days as a speaker and hackathon mentor. The event discusses latest Blockchain applications and talks about the impact of the new token economy on the way we do business. In parallel there will be the first CryptoMountain Rocks #ALPINE-HACK19 covering themes such as Agriculture, Energy and Supply Chain. …
80 Days ago
A git workflow that is easy and scale for product development
There are numerous GIT workflow floating around like Centralized Workflow, Gitflow, Forking flow and Feature Branch Workflow Over the last 10 years, I have followed this really simple workflow, similar to the forking flow. it allow Parallel Development, features branches can be merged to any release branches or ideally Master Collaboration Feature branches also make it easier for two or more developers to collaborate on the same feature We consider Master the stable version of the product, this branch should be deployed automatically using …
104 Days ago
Using free Cloudflare for CDN and DDoS protection
Cloudflare, Inc. is an American web infrastructure and website security company, providing content delivery network services, DDoS mitigation, Internet security, and distributed domain name server services.  It will cost you 0$ (DDOS, CDN) to 20$ or more and offer you the following advantages DDoS is short for Distributed Denial of Service. DDoSis a type of DOS attack where multiple compromised systems, which are often infected with a Trojan, are used to target a single system causing a Denial of Service …
104 Days ago
Add Docker container logs in Splunk
With Splunk You will be able to optimize container usage by monitoring CPU, memory, disk and network performance metrics from your containers. Pay only for what you need by managing resources and measuring the impact on service reliability and container resource requirements. Get a complete overview of Kubernetes and OpenShift Environments Correlate performance metrics, container logs and OpenShift/Kubernetes configuration and metadata for a better understanding of how your infrastructure is performing and how hosted applications are behaving. …
104 Days ago
Installing latest Splunk in 5 minutes using Docker
From 0 to Splunk in 5 minutes using Docker and Compose Splunk is an American multinational corporation headquartered in San Francisco, California, which produces software for searching, monitoring, and analyzing machine-generated big data, via a web-style interface. Docker is an open source software platform to create, deploy and manage virtualized application containers on a common operating system (OS), with an ecosystem of allied tools.  Compose is a tool for defining and running multi-container Docker applications. With Compose, you use a YAML file to configure your application's services. Then, with …
104 Days ago
Explore 142 Initial Exchange Offering  (IEO) by category, year and country
IEO is currently the most popular fundraising trend in the crypto industry. As the name suggests, Initial Exchange Offering is conducted over the crypto trading platform and exchanges. So unlike ICOs wherein crypto projects directly approach investors, IEOs involve a third-party in the form of crypto exchanges. …
198 Days ago
Security Token Offering (STO) statistics
Security token offering (STO) is a type of fundraising that is performed with a company offering tokenized securities. The defining feature of security token offerings is in its definition. Stocks, bonds and managed property trusts are another examples of securities. …
199 Days ago
systematization of knowledge within major blockchain protocols or consensus
Alexis Gauba presented a systematization of knowledge within major blockchain protocols or consensus, addresses the common challenges …
277 Days ago
Stablecoins: Crypto's Holy Grail or Fools’ Errand? by Dr Garrick Hileman
I was attending the interesting LECTURE "Stablecoins: Crypto's Holy Grail or Fools’ Errand?" by Dr Garrick Hileman - Head of reseach at Blockchain - London School of Economics - United Kingdom at hashtag#ETH hashtag#Zurich and here is a copy of the slides Introducing: 2019 State of Stablecoins The 2019 report builds on its predecessor to provide an updated and expanded look at the current state of the stablecoin market - a space where we expect to see significant innovation in …
277 Days ago