Consensus Algorithms. PoW, PoS, DPoS Explained

in #steem7 years ago (edited)


I go over the mystery behind consensus algorithms that govern current blockchain technologies. What are the differences? Why do we need them?

Proof of Work

Proof of Stake

Proof of Activity

Proof of Burn

Proof of Capacity

Delegated Proof of Stake

Links:

https://www.coindesk.com/short-guide-blockchain-consensus-protocols/

https://hackernoon.com/explain-delegated-proof-of-stake-like-im-5-888b2a74897d

Happy Investing C# HODLCREW





http://connorkenny.com https://youtube.com/c/ConnorKenny https://twitter.com/ConnorLKenny Find me on steem platforms, @investing https://steemit.com/@investing


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this is good stuff. I've had a difficult time trying to understand the consensus. It's hard to wrap your head around this type of thing when it's new to you. You do a good job of explaining things in your vids. It's much appreciated. i learn a lot from you.

Nicely done here, very clear explanations for newbies and and those of us who've been around a bit longer who still need some further clarifications and reinforcement. Cheers!

Thank you sir. You taught me everything I know about block chain technology.

Great to know these algorithms thank you so much cant find anywhere else.

Great to see you back again iam technically not so amazing like you,you are the best when it comes to explaining these algoriths,have a great day.

I really wanted to understand the truth behind all of the consensus algorithms.
Thanks for your help putting them all together!)

the best moment to invest in crypto or steem is now, as the market is down and now it will only rise...

Well we all want to know what is happening arround!
And this time of dip HOLDING is a best option for us all!
Happy HOLDING DAYS SIR!

HODL - Hold on for dear life!

Hey everthing will be fine.. ** STEEM ON**
HOLD :DD

Connor, you drew my name in the Crypto Bears are Charging video, but threw out my entry. I have not won before. Can you take a look?

I will look for sure man. I just checked, you’re right. Check your wallet it is sent off. Thanks for watching.

Sweet! I just saw your reply on You-Tube. I put similar comments on a couple of previous videos. Feel free to ignore them.

Hey @investing i am new to your blog, hope to have a good relationship with you on my journey of steemit, btw you got pretty eyes brother! God bless you!

Im curius about the whole cryto world lets see what happens .. its time to hold for now.. I'm addicted to steemit lol
cheers

If your posts are different, our posts will be much better if you steemit, thanks you

These things are very difficult to understand and yet you have made it easy to understand them. Lovely informative video. Thanks.
And by the way I don't see the dip in the market as only a dip. I think it's an opportunity, an opportunity to invest as the prices are very low. I hope we can make the most of it. Thanks

thats great to know about proof of work and all these.you are doing a great job.

Well explained @investing. With difficult current crypto situation keep HODL.

Hold on to survive this dip and fud! Don't worry it is not going to stay for long period of time!

nicely explained,thats why i always you are the best when it comes to crypto.

I'm beside you
You calm my soul
Setiaamu on your promise
To always take care of me
Because without you what it means to me
Because without you I will not be here
Mother believe me
I'll stay here just for you
Until the star does not shine
Until no more my life
I see your cahya that confirms me
That you are always my light
Be faithful to your promise
To always keep me

Good work , Connor. Check out my predictions. It should be fun.
https://steemit.com/bitcoin/@profchingachgook/crypto-market-recovery

Consensus algorithms support many real-world systems including Google's PageRank, load balancing, smart grids, clock synchronization and drone control.

I am buying what I can also between 2 airconditioning units going out this last year, 1 replaced and 1 to go...! Great decision to buy though and great explanations thanks for sharing! Looking forward to more as this market craziness continues.


Thanks for tasting the eden!Great post! You just got a 46.51% upvote from @edensgarden!

greatly explained sir. it's the better time to invest in crypto. you all guys invest and hold.

Great to see you back again iam technically not so amazing like you,you are the best when it comes to explaining these algoriths,have a great day.

Nicely explained about each term with perfect details now even i could explain someone easily that was such a good video keep making videos like these :)

You got a 46.15% upvote from @redlambo courtesy of @manlyness! Make sure to use tag #redlambo to be considered for the curation post!

btw, I now finally understand witnesses. I'm pretty amazed that they don't go out of their way to simplify this for new members. I have voted for a few but never knew why. They just asked me to lol. I would assume that most members have 25 or more votes remaining and have no idea what to do with them. I also like the explanation of DPOS. I hadn't read that article but either way I think things are a lot easier to grasp when I watch you and hear you say them. I'm really liking the education I'm getting from your vids.

I have $500 burning a hole in my pocket but I don't know if I should dump it into steem. It only increases my sp by about 250SP. It won't change my earnings all that much and I could use it toward debt. Any thoughts on steem going lower? I bought in at $3.20, $6.10 and $4.30.

@investing brings the Best in Crypto news and Information on a daily basis and I am so happy to have him on STEEMIT to keep us all informed and UP to date on how things work such as this video and what is part of what makes Crypto's Move on a moment by moment basis...................

So many concepts are there in crypto i only knew about two i learnt something cool today all thanks and credit goes to you i think everyone should watch this video resteemed

Release the Kraken! You got a 11.92% upvote from @seakraken courtesy of @manlyness!

You got a 56.96% upvote from @allaz courtesy of @manlyness!

Steem Upvote Bot Tracker

introduceyourself. He is going to hold interesting contests with cash prizes and promises to tell a lot of interesting stories!Thanks for using Bid Voting Bot @allaz service and I want to introduce you to my new friend @monsterbit in order to give additional thanks! Do you know who is @monsterbit is? My friend, you can miss a lot. I highly recommend checking him with

wonderful video nicely explained and perfect video for the day :)
Thanks for sharing :)

great video on this thing today lots of concept are there finally understood about each thing in fine details :)

excellent video you shared this is the best one till now so far big fan of your channel always got to know something new

this is why i love steemit i got to learn something new everyday from everyone :)

You do a good job of explaining things in your vids. It's much appreciated. i learn a lot from you.