Consensus means achieving a state of decision on which all network participants agree. 

Consensus mechanisms are the protocols, algorithms, or other computer systems that allow cryptocurrencies to work.

They are systems of agreement that determine the validity of transactions and governance of the blockchain. There are different types of consensus mechanisms with various benefits and drawbacks.

Primary Types of Concensus Mechanism

Other Types of Concensus Mechanism

  • Delegated Proof of Stake (DPoS)
  • Proof of Importance (PoI)
  • Proof of Capacity (PoC)
  • Proof of Elapsed Time (PoET)
  • Proof of Activity (PoA)
  • Proof of Authority (PoA)