Blockchain Solutions (1)

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CONSENSUS ALGORITHM - A HERITAGE TO THE
BLOCKCHAIN ECOSYSTEM

• www.osiztechnologies.com

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• In recent times, the world is revolutionizing
  with the technology advancements. Undoubtedly,
  the blockchain technology is surfacing in the
  midst with its anew releases. Its amazing that
  how much we are craze to grasp its emerging
  releases, it offers constant technology
  advancements to us.
• 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.

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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..
• As a matter of fact, a consensus algorithm
  furnishes systems security and reliability. To
  secure a blockchain system, a consensus algorithm
  should be spirited to these following attacks.
• 1. 51 attack
• 2. Denial of Service (DoS) attack
• 3. Byzantine faults

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• 4. Sybil attack
• To protect, detect and resolve the faults and
  attacks happen in the blockchain network,
  consensus algorithm is obligatory.
• Categories of Consensus Algorithm
• The consensus algorithm comes with 14 categories
  to facilitate the humans. They are the following
• (i) Proof of Work (PoW)
• In proof of work, the miners or the
  supercomputers have to figure out complex
  problems or puzzles when a transaction is
  initiated by the user to verify it.

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• (ii) Proof of Stake (PoS)
• In the Proof of Stake concept, the user has to
  spend his/her coins to mine or validate new
  block.
• (iii) Delegated Proof of Stake (DPoS)
• DPoS is identical to PoS, but the user need to
  expend more coins to vote or elect witnesses.
• (iv) Leased Proof of Stake (LPoS)
• The user can build customized tokens and attain
  benefit from it through the coin lease to the
  network.

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• (v) Proof of Activity (PoA)
• This algorithm utilizes both PoW and PoS, to
  integrate the best of two features for fine
  validation solution.  
• (vi) Proof of Importance (PoI)
• When an user often sends and receive
  transactions, they will be rewarded with some fee
  for it.
• (vii) Proof of Capacity (PoC)
• With this protocol, it is simple to utilize the
  hard drive of the users capacity

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• (viii) Proof of Burn (PoB)
• Users sends the coin back into the Eater Address,
  the wallet that they cant recover coin from, and
  get reward based on the amount.
• (ix) Proof of Weight (PoWeight)
• Similar to the PoS, but the contrast is that
  PoWeight depends on certain constituent called
  weights.
• (x) Proof of Elapsed Time (PoET)
• It is identical as PoW, rather than that it
  focuses more on the consumption.
• (xi) Practical Byzantine Fault Tolerance (PBFT)
• It focuses on the state machine. The byzantine
  utilizes certain sequence to have the rouge users
  at bay.

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• (xii) Simplified Byzantine Fault Tolerance (SBFT)
• Here, the validator can aggregate the proposed
  transactions and build a new block.
• (xiii) Delegated Byzantine Fault Tolerance (DBFT)
• Among the professional node controllers, it
  mainly focuses on the gamified way to verify a
  block.
• (xiv) Directed Acyclic Graphs (DAG)
• DAGs can handle the transactions asynchronously
  without having a blockchain data structure.

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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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• Stick with us for your blockchain requisites
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