Unlike centralized systems where a central administrator maintains and updates the database, decentralized systems distribute this role among several nodes that must reach the same conclusion and agree on the legitimacy of transactions, hence the name consensus.

In this video we look at seven different types of consensus mechanisms, in addition to proof of work and proof of stake.

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

Timestamps:
00:00 Introduction
00:51 Why is consensus important?
02:32 Evidence of activity
04:03 Evidence of authority
05:40 Evidence of burning
07:07 Proof of capacity
08:35 Evidence of history
09:53 Evidence of interest
10:52 Delegated proof of stake
11:57 Outro

Download the CoinGecko app!
iOS: https://gcko.io/coingecko-ios
Android: https://gcko.io/coingecko-android

Follow us!
Twitter: https://twitter.com/coingecko
Instagram: https://www.instagram.com/coingecko
TikTok: https://www.tiktok.com/@coingeckotv
Telegram: https://t.me/coingecko

Subscribe to the CoinGecko newsletter!
https://landing.coingecko.com/newsletter/

#blockchain #pow #pos #crypto #cryptocurrency #proofofwork #ethereum #finance #proofofstake

Please take the opportunity to connect and share this video with your friends and family if you find it helpful.