All Major Blockchain Consensus Algorithms Explained | Consensus Mechanism in Blockchain
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Are you new to blockchain technology and want to learn about the different consensus algorithms in blockchain networks? Look no further! In this video, we explain all the major blockchain consensus algorithms, including Proof of Work (PoW), Proof of Stake (PoS), Delegated Proof of Stake (DPoS), Practical Byzantine Fault Tolerance (PBFT), Proof of Elapsed Time (PoET), Proof of Burn (PoB), Proof of Capacity (PoC), Proof of Activity (PoA), Proof of Importance (PoI) and more.
Video Walkthrough (All Blockchain Consensus Explained)
0:00 What Are Blockchain Consensus Mechanisms
0:33 What is Proof of Work (PoW) in Blockchain
1:07 What Does Proof of Stake (PoS) Mean in Crypto
1:52 What is Delegated Proof of Stake (DPoS)
2:30 What is Leased Proof of Stake (LPoS)
3:16 What is Proof of Authority (PoA) in Blockchain
4:01 What is Byzantine Fault Tolerance in Blockchain
5:48 What is Practical Byzantine Fault Tolerance (PBFT)
6:42 Delegated Byzantine Fault Tolerance (dBFT) Explained
7:36 What is a Directed Acyclic Graph (DAG) in Crypto
8:45 What is Proof of Capacity Consensus Mechanism
9:12 Proof of Burn Consensus Algorithm in Blockchain
9:37 What is Proof of Identity in Blockchain
10:01 What is Proof of Activity & Why it Matters
10:40 Proof of Elapsed Time (PoET) in Blockchain
11:26 What is Proof of Importance Consensus Algo
12:11 Conclusion
Understanding the consensus mechanism in blockchain is crucial for anyone interested in this technology, as they determine how transactions are verified and added to the blockchain. Our comprehensive explanation of each consensus algorithm types will help you gain a deeper understanding of how blockchain works and what makes each algorithm unique.
We'll also discuss the advantages and disadvantages of each blockchain consensus explained in simple manner and explore real-world examples of types of consensus mechanism in blockchain that use them. Whether you're a developer, investor, or simply interested in blockchain technology, this video is the perfect introduction to blockchain consensus algorithms and is well suited for anyone who wants to understand types of consensus algorithms in blockchain.
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