Nov 28, 2022
What are the algorithms that can be used to implement proof of authority in a private blockchain?
Several algorithms can be used to implement proof of authority in a private blockchain. The Practical Byzantine Fault Tolerance (PBFT) algorithm is the most popular. The PBFT algorithm is a consensus algorithm used to achieve fault tolerance in distributed systems. The PBFT algorithm is based on the concept of Byzantine generals, which states that more than two-thirds of generals (i.e., nodes in a distributed system) are honest for the system to be secure. Other algorithms that can be used include the Proof-of-Stake (PoS) algorithm and the Delegated Proof-of-Stake (DPoS) algorithm.
What are its ten benefits:
1. Efficiency:
2. Security:
3. Speed:
4. Decentralization:
5. Scalability
6. Privacy:
7. Flexibility:
8. Hard to hack:
9. Resistant:
10. Environment free:
Conclusion:
Best
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