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Consensus Algorithm - A Heritage to the Blockchain Ecosystem

The behaviour of consensus algorithm in blockchain that makes the technology wonder

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Consensus Algorithm - A Heritage to the Blockchain Ecosystem

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  1. Consensus Algorithm A Heritage to the Blockchain Ecosystem

  2. Consensus Algorithm - The Root of Blockchain Technology The thing which makes all the consensus sequences of a blockchain differ from one another is possible with this consensus algorithms. To point out, blockchain network facilitates millions and millions of people in the same space. But it makes us wonder, how they ever and never interfere with one another. To spot our, this exist only because of the consensus algorithm.

  3. Why Consensus Algorithm? As a known fact, a blockchain network is of distributed architecture. Usually, the nodes of a blockchain network are autonomous (I.e, independent to each other) and to maintain data consistency, it is more vital to collaborate the nodes with each other. Henceforth, the consensus enables nodes coordination and attain database consistency in the blockchain network.

  4. As a matter of fact, a consensus algorithm furnishes system’s security and reliability. To secure a blockchain system, a consensus algorithm should be spirited to these following attacks.

  5. Categories of Consensus Algorithm (i) Proof of Work (PoW)

  6. (iii) Delegated Proof of Stake (DPoS)

  7. (v) Proof of Activity (PoA)

  8. (vii) Proof of Capacity (PoC)

  9. (ix) Proof of Weight (PoWeight)

  10. (xi) Practical Byzantine Fault Tolerance (PBFT)

  11. (xiii) Delegated Byzantine Fault Tolerance (DBFT)

  12. Consensus as a Boon Algorithm To mention, consensus algorithms are chief supposition of blockchain distributed systems. As a result, a consensus algorithm is essential to enable consistency, reliability and security in a blockchain system. To make the businesses wonder, many of the entrepreneurs are seeking for the best blockchain development company. For them, Osiz Technologies is the right choice, a leading blockchain development company which is familiar with all sorts of above mentioned consensus algorithm to deliver best blockchain development services to their clients. Make quantity in your business with quality services.

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