Appendix K: DIDO Consensus

Return to Reference Architecture (RA) or Return to Appendices

Why is it important

Consensus Algorithm are essential in establishing confidence in a DIDO.

Thus there are various types of consensus algorithms in blockchain prospect, some of them are explained below1) Coinjoker, Consensus Algorithms in Blockchain, Accessed: 9 July 2021, https://www.cryptoexchangescript.com/blockchain-consensus-algorithms

Consensus Alorithym	Description	Platform Examples	Pros	Cons	Type
Proof of Work (PoW)	Bitcoin, Litecoin, ZCash, Primecoin, Monero, Vertcoin	Less opportunity for 51% attack Better Security	Greater energy consumption Centralization of Miners	Competitive ConsensusWebpage: SAINI
Proof of Stake (PoS)	Ethereum, Dash, Peercoin, Decred, Reddcoin, PivX	Energy efficient Webpage: SAINIMore expensive to attack for attackers Webpage: SAININot susceptible to economies of scale Webpage: SAINI	nothing-at-stake problem Webpage: SAINI	Competitive Consensus Webpage: SAINI
Delegated Proof of Stake (DPoS)	Steem, EOS, and BitShares Webpage: BHARDWAJBitShares, Steemit, EOS, Lisk, Ark Webpage: SAINI	Energy efficient. Webpage: SAINIFast. Steemit, a high traffic blogging site uses it. EOS has a block-time of 0.5 sec. Webpage: SAINI	A bit centralized.Webpage: SAINIParticipants with high stakes can vote themselves in to become a validator. Something which is seen recently in EOS.Webpage: SAINI	Collaborative consensusWebpage: SAINI
Leased Proof of Stake (LPoS)	Waves
Proof of Elapsed Time (PoET)	Hyperledger Sawtooth, Resource-Efﬁcient Mining (REM)
Practical Byzantine Fault Tolerance (PBFT)	Stellar, Ripple, Hyperledger FabricWebpage: BHARDWAJ
Simplified Byzantine Fault Tolerance (SBFT)	Chain
Delegated Byzantine Fault Tolerance (DBFT)	NEO Webpage: BHARDWAJ
Directed Acyclic Graphs (DAG)	Iota, Hedera Hashgraph Webpage: BHARDWAJ
Proof of Activity (PoA)	Espers and Decred Webpage: BHARDWAJDecred Webpage: SAINI	Collaborative consensusWebpage: SAINI
Proof of Indentity (PoI)
Proof of Importance (PoI)	NEM
Proof of Capacity (PoC) Proof of Space (PoS)	Burstcoin and SpaceMint Webpage: BHARDWAJ	Similar to PoW but uses space instead of computation. Thus much environmental friendly.Can be used for malware detection, by determining whether the L1 cache of a processor is empty (e.g., has enough space to evaluate the PoSpace routine without cache misses) or contains a routine that resisted being evicted.Can be used for anti-spam measures and denial of service attack prevention.PoC can use any regular hard drives including those with Android-based systems.It is reportedly up to 30-times more energy efficient than the ASIC-based mining of the bitcoin cryptocurrency.There is no need for dedicated hardware or constant upgrading of hard drives. Mining data can be easily wiped-off and the drive can be reused for any other data storage purpose.https://www.investopedia.com/terms/p/proof-capacity-cryptocurrency.asp	Not many developers have adopted the system.It is possible for malware to affect mining activities.Widespread adoption of PoC could start an “arms race” to produce higher capacity hard drives.https://www.investopedia.com/terms/p/proof-capacity-cryptocurrency.asp	Collaborative consensusWebpage: SAINI
Proof of Burn (PoB)	Slim Coin Webpage: BHARDWAJ
Proof of Weight (PoW)	Algorand, Filecoin, Chia	Energy efficient.Webpage: SAINIHighly Customisable and scalable.Webpage: SAINI	Incentivization can be hard.Webpage: SAINI	Competitive consensus Webpage: SAINI