The fifth important consensus algorithm is the proof of work consensus algorithm. In general terms, proof of work consensus algorithm is a broad concept. It is a classification based on the algorithm and algorithm. The algorithm uses a new consensus protocol known as Byzantine agreement. algorithm uses a unique mechanism based on verifiable random functions. That allows the users to check whether they are privately selected to participate in the Byzantine agreement or not.

Users need to agree on the next set of transactions and include a proof of their selection in their network messages. In this protocol, users do not keep any private state for the agreement, except for their private keys, which allows Algren to replace participants immediately after they send a message. This mitigates targeted attacks on choosen participants after their identities revealed. Byzantine agreement is highly scalable and secure. In laymen terms, we can say that proof of weight is similar to the proof of stake, but the stake of user is defined by taking weight into consideration. This weight could be the percentage of coins, identities, or any other physical asset a proof of work consensus algorithm runs on the concept of a committee.

The participants keep on changing and the consensus is achieved for the network through this committee. Now let's understand the proof of weight consensus algorithm through a diagram. As you can see in the image, we have a blockchain present with the proof of weight consensus algorithm. Users are connected to blockchain when users submit the traffic On top of the blockchain using their accounts, there is a blockchain committee present who provides the consensus for the blocks. The blockchain committee acts as the validator for the complete blockchain network. They provide the validation and verification of the transactions.

Although participants can keep on changing within the committee, yet the committee achieves the consensus together as a whole. Participants share the weight for the consensus as per the entities they have tagged within the committee. One of the examples of blockchain projects using proof of work consensus algorithm is file coin file coin is using a separate implementation of proof of work consensus algorithm, which is proof of space time. This is a weighted consensus algorithm and it defines how much interplanetary file system data you are storing and Your end, the weight is determined from different parameters. If the overall weight fraction of the honest users is higher than the two thirds of the total weight, then the network achieves the consensus and remains secure. This kind of consensus algorithm also helps in the protection of double spending of transactions.

Proof of work consensus algorithm is similar to the proof of stake consensus algorithm. But in proof of stake consensus algorithm, the number of tokens held at any given time determines the amount of rewards a user is earning. Whereas proof of work consensus algorithm uses an entirely different weighted value, which is used to secure and provide consensus for the network. In this lecture, we detail different consensus algorithm with the examples and also created a ground to understand how different consensus mechanism works. This will help you in choosing the right consensus algorithm for your projects. In the next lecture, we are going to talk about different types of blockchain, which are predominantly present in the market.

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