July 22, 2021, 7:03AM EDT
• 22 min read
An overview of alternative consensus mechanisms
- 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.