Alternative Alternative consensus mechanisms to use aside Proof-of-Work and Proof-of-Stake

11 Sept 2022

Someone might ask why would anyone want to use any consensus mechanism aside these two, for all we know, they are the both the most well popular in the crypto industry. That right there is one of the reasons to even consider alternative consensus mechanisms and more reasons to come. 

- I personally think Proof of work is a stiff consensus mechanism.
- It's slow compared to other consensus mechanisms.
- It uses high computational power which makes it harmful to the environment.
- It has a 51% attack prone system, this then leaves the blockchain building on it to fix that in order to thrive on the consensus mechanisms.

- It's not decentralised due to the way the mechanism works. It give more power to the whales who can purchase and stake more tokens.
- Lately, the Proof of stake has had a number of security lapses making it prone to attacks. The only Proof of stake tokens and blockchains that survived these attacks are the one that have their own security architecture in place.
In the crypto industry today and now, we look for speed, decentralisation, security and Interoperability. These consensus mechanisms can't give us 3 out 4 of these criteria.

Alternative consensus mechanisms you can use;

-Delegated Proof of Stake (dPoS): This is an upgrade to the original Proof of Stake, gives room for decentralisation and offers better security.
-Proof of Time(PoT)
- Proof of Authority
- Proof of Stake Authority (dPoSA) a combination of both delegated Proof of Stake and Proof of Authority.


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