Receive curated Web 3.0 content like this with a summary every day via WhatsApp, Telegram, Discord, or Email.
SimpleAsWater Daily Web 3.0 Newsletter
SimpleAsWater Daily Web 3.0 Newsletter: Receive 1 curated Web 3.0 resource with summary every evening on WhatsApp…
Consensus algorithms are the basis of all the blockchains/DAGs. They are the most important part of the blockchain/DAG platforms.
Without them(consensus algorithms) we will be left with just a dumb, immutable database.
Here we list all the major consensus algorithms and will evaluate their pros and cons. If you find anything missing or wrong here then shoot that in the comments. Also, the article will be updated regularly as I study more about these algorithms and their economic impacts.
P.S. This article assumes that you have an understanding about what is a consensus algorithm and it’s significance in blockchains.
Here is a list of 30 consensus algorithms.