Ever wonder what is Consensus Algorithm in blockchain and why do we need it? What is the backbone of blockchain or any other decentralized and distributed technology?
Consensus protocols allow the blockchain to confirm transactions without relying on a third party. There are different ones for different types of blockchains and each has its own pros and cons. Choosing the right algorithm depends on several factors like the type of blockchain (private or public), project scale, performance requirements, tokens, application type and more.
Read More to know more about workings of different blockchain consensus algorithms which helps you choosing the right one at Yourstory.com
What’s your favorite consensus algorithm? Let me know why in the comments!
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