Proof Point
Proof-of-Work and Proof-of-Stake are the most common consensus protocols enabling trustless distributed ledgers
Most Common Blockchain Consensus Protocols
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
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Cross-sector
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Date Last Updated |
July 19, 2018
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