Shortest Blockchain ‘Proof-of’ systems explanation

Proof of Work (PoW)

When transactions are initiated by a user, ‘miners’ or supercomputers try to solve a problem or puzzle to verify it. This ‘work’ is rewarded with the native crypto. This transaction is then a part of the next block which will be added to the chain.

Proof of Stake (PoS)

A user is encouraged to spend more until he/she becomes a validator to create a block.

Delegated Proof of Stake (DPoS)

Same as PoS but users with more coins will get voting power and elect witnesses to view the block verification.

Leased Proof of Stake (LPoS)

Users will be able to make customised tokens and use it on their accounts for better security.

Proof of Elapsed Time(PoET)

Similar to PoW but the difference is that is focuses more on consumption.

Practical Byzantine Fault Tolerance (PBFT)

Byzantine used a particular sequence to keep the rogue users at bay.

Simplified Byzantine Fault Tolerance (SBFT)

A single validator can bundle proposed transactions and create a new block

Delegated Byzantine Fault Tolerance (DBFT)

Focus on a gamified way of a block verification among the professional node controllers.

Proof of Activity (PoA)

Uses both PoS and PoW to ensure the reward points are on time.

Proof of Authority (PoAUTH)

Uses a consensus mechanism based on identity as a stake, delivers comparatively fast transactions.

Proof of Burn (PoB)

Users burn some of their token to enter into the possibility of mining the next block.

Proof of Capacity (PoC)

Using this protocol you can utilize the capacity or storage space of a users hard drive.

Proof of Importance (PoI)

Users that frequently send and receive transactions will get paid for that.

Proof of location (PoL)

A protocol that uses locations of the users as proof.

Proof of Weight (PoWeight)

Similar to PoS but the difference is that it depends on various other factors that effect the outcome, these factors are ‘weights’.

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