Consensus mechanisms

Zachary R. Steelman

Chapter 9 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 46-51 from Edward Elgar Publishing

Abstract: This chapter provides an overview of blockchain consensus mechanisms and their importance in securing decentralized networks. It explains key mechanisms like proof of work (PoW), proof of stake (PoS), delegated proof of stake (DPoS), and proof of authority (PoA), highlighting their advantages, disadvantages, and implications on sustainability, security, and efficiency. The chapter also explores newer mechanisms such as proof of coverage (PoC) and proof of elapsed time (PoET), which connect blockchain technology with real-world infrastructure and provide energy-efficient alternatives.

Keywords: Consensus mechanisms; Decentralized networks; Proof of work; Proof of stake; Energy-efficient blockchain solutions; Blockchain validation; Blockchain mining (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
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