Methods for Achieving Consensus on the Blockchain Network
1. Proof-of-Stake: A method based on the amount of currency held by the user. The more units of cryptocurrency a block chain participant has, the more likely it is that he will create a new block. There are two methods for selecting a block creator.:
- pseudorandom (where only the bet amount is important);
- a method that is affected by the "age of coins".
Cryptocurrencies created based on the PoS protocol are, for example, digital coins such as NXT and BlackCoin.
2. Delegated bid confirmation: The method is based on the choice of currency by several delegates through voting. Only delegates have the right to add new blocks to the blockchain, for which they receive rewards. DPoS-based consensus was used, for example, when creating the BitShares cryptocurrency.
3. Shared Data Ownership (PDP): This method allows the user to send data to a specific server and then check if it is saved there.
4. Proof-of-Retrieval (PoRet): The PDP consensus method also allows recovery of sent data. However, this requires sending multiple requests and restoring data from the received fragments.
5. Proof-of-Storage: The method is based on the user's request to save data to a specific location, and then re-check whether it is still being stored. This scheme is a generalization of the PDP and PoRet protocols.
6. Proof-of-Replication (PoRep): This is a type of Proof-of-Storage protocol that additionally requires the allocation of a specific unique physical memory. This method does not allow you to store the same data twice in the same place.
7. Proof-of-Space (PoSpace): A diagram that requires the participant to prove that he has allocated a part of the memory of his equipment to the blockchain system. This method does not require as much electricity in operation as the method based on the PoW protocol.
8. Proof-of-Spacetime (PoSt): This is a PoSpace protocol with a sequence of checks distributed over time.
9. (PoI) is a derivative of the Proof-of-Stake system, but with a number of improvements. The mathematical formulas used process account information to determine how important a person is to the cryptocurrency community. The more important a user is to the system, the more likely they are to receive fees for transactions made by other users while "digging cryptocurrencies." Currently, the most popular cryptocurrency system using this type of solution in its work is the NEM cryptocurrency network.
Other ways of reaching consensus, for the most part, did not go beyond the experimental phase. Melbet supports various payment methods for depositing and withdrawing funds, with options including credit cards, crypto, eWallets and mobile payments. If in doubt, use the melbet promo code get free welcome bonus 100% deposit bonus up to 100€/$ to claim the initial welcome bonus and first deposit offers. Other promotions at this betting site include weekly free bets, refund offers, and casino bonuses, which may ask for a promo code.
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