ANNOUNCEMENT! We're excited to share that The Block Pro, a portfolio of research, news and data products in one easy-to-use platform, launches later this month. Reach out to your account manager for more information about products and subscription options.
Consensus mechanisms are a key piece in any blockchain network that impacts decentralization, speed, and security.
The issues with popular consensus algorithms like Proof of Work and Proof of Stake have led to newer means of achieving consensus which improve upon the faults of earlier protocols.
The use and development of new consensus mechanisms can allow for blockchains to reach agreement based on what they deem important in the system.
Footnotes
Join The Block Research for exclusive research like this
Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.
