Most Common Blockchain Consensus Protocols

Proof Point

Proof-of-Work and Proof-of-Stake are the most common consensus protocols enabling trustless distributed ledgers

Proof Point Findings

Proof-of-Work

Authentication Process – Participants, called miners, compete to authenticate transactions by solving complex mathematical problems
Rewards – Block reward or specific amount in transacted currency
Participation Requirements – Include significant computational power, software, and high amounts of energy
Selected Adopters – Include Bitcoin, Ethereum, Litecoin, Monero, Bitcoin Cash

Proof-of-Stake

Authentication Process – Participants, called validators, are designated to authenticate transactions, with chance of being assigned dependent on amount of coins they possess or stake
Rewards – Transaction fees and interest from stakes
Participation Requirements – Coins of transacted currency for staking
Selected Adopters – Include Dash, NEO, PIVX, OkCash, NAV Coin, Stratis, and DeviantCoin

Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Sector	Cross-sector
Source	"Making sense of Proof of Work vs. Proof of Stake," CoinCentral, https://coincentral.com/; "Proof-of-Work (PoW) vs. Proof-of-Stake (PoS)," CoinPupil, https://coinpupil.com/; "Top 7 profitable Proof of Stake (PoS) cryptocurrencies," CoinSutra, https://coinsutra.com/; "Proof-of-Stake (PoS) Coins list," PoS List, https://www.poslist.org/; "PoS Cryptocurrencies," CryptoSlate, https://cryptoslate.com/; AcceleratingBiz analysis
Date Last Updated	July 19, 2018

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