Blockchain Consensus Algorithm: PoW, PoS and Beyond

One of the most critical aspects to understand blockchain – its speed, applications, and potentials is consensus algorithms. It determines everything from network security, confirmation speed, to environmental friendliness. As crucial as it is, few comprehend how such a dynamic concept works in practice; and among the most misunderstood aspects include just how new blocks of information are securely added to the ledger, considering no centralized authority is engaged to maintain the integrity of the network. As a recap from an earlier post, blockchain provides a way for transactions to be ordered and verified in a distributed ledger, and ultimately provides…...