Block Chain Consensus Explained - POS, POW, POA + More w/ Examples

Easy to follow overview of the 10 most popular blockchain consensus mechanisms with examples of each. https://GetMyFreeCrypto.com

Blockchains require trust between total strangers all over the globe. They accomplish this through a technique called a consensus mechanism.

A consensus mechanism is what allows all the different data storage sites around the world to reach consensus or agreement on what transactions are valid and which are not.

More importantly it blocks someone from trying to cheat the system by dominating a majority of the transaction recording nodes.

On a blockchain you work with others that you don’t necessarily know or trust, so we use math and computer programming to create this trust.

I'll explain how consensus works, why it is so important and go over the 10 most popular methods.

** Video Links **

Staking Tokens -    • What is Staking in Crypto (Definition + Re...  
The Trilemma -    • The Impossible Trinity - 60 Second Adventu...  
Helium To Solana -    • Helium Moving To Solana | Possible Game Ch...  
Block Explorers -    • Block Explorer Tutorial - Walkthrough Ethe...  


** Time Codes **
0:00 - What is Consensus
1:14 - Proof Of Work - Bitcoin
2:58 - Proof Of Stake - Ethereum
4:18 - Proof Of Authority - Binance
5:31 - The Trilemma
5:47 - Free Tokens
6:05 - Delegated Proof Of Stake - Solana
6:47 - Proof Of Capacity - BitTorrent
7:33 - Proof Of Weight - Algorand
7:58 - Proof Of Burn - SlimCoin
9:02 - Practical Byzantine Fault Tolerance - HyperLedger
9:42 - Unique Node List - Ripple
10:18 - Proof Of Coverage - Helium
11:18 - Rewarding Miners & Validators
11:44 - Public Blockchain Records

** Disclaimers **
FINANCIAL DISCLAIMER: Jason Moffatt and David Tatera created CryptoTutorials.org to help people with common questions about purchasing and owning crypto currencies and NFTs. All information provided is general knowledge and for educational purposes only. It is definitely NOT investment advice. Please seek a professional before investing and only invest what you can afford to lose.

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