blockchain//consensus

Consensus is the set of rules that decides who creates the next block of a blockchain and how the network agrees that the block is valid. Three families of rules exist, and they trade energy, speed and openness differently.

Consensus is the set of rules that decides who creates the next block of a blockchain and how the network agrees that the block is valid. Three families of rules exist, and they trade energy, speed and openness differently.

In proof of work (PoW, deprecated) nodes compete by mining hash puzzles, at the price of an enormous waste of energy.

In proof of authority (PoA, Clique) authorized signers take turns, which is fast and efficient and makes the network permissioned, the choice for private and consortium networks.

In proof of stake (PoS) validators stake ETH and are selected at random, which is energy efficient and keeps participation open, the choice for public networks such as Ethereum Mainnet.