The 7 Types of Consensus Mechanisms You NEED To Know

Unlike in centralized systems where a central administrator maintains and updates the database, decentralized systems disperse this role to different nodes which must reach the same conclusion and agree on the legitimacy of transactions hence the name consensus.

In this video, we will look at 7 different types of consensus mechanisms besides proof of work and proof of stake.

Links:
CoinGecko: https://www.coingecko.com/
GeckoTerminal: https://www.geckoterminal.com/

Timestamps:
00:00 Intro
00:51 Why is consensus important?
02:32 Proof of Activity
04:03 Proof of Authority
05:40 Proof of Burn
07:07 Proof of Capacity
08:35 Proof of History
09:53 Proof of Importance
10:52 Delegated Proof of Stake
11:57 Outro

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