Identify the Consensus Mechanism

The Complete Blockchain Professional Course Forming your own Blockchain Solution
1 minutes
Share the link to this page
Copied
  Completed
You need to have access to the item to view this lesson.
One-time Fee
$99.99
List Price:  $139.99
You save:  $40
€88.46
List Price:  €123.85
You save:  €35.39
£75.37
List Price:  £105.52
You save:  £30.15
CA$138.20
List Price:  CA$193.48
You save:  CA$55.28
A$155.11
List Price:  A$217.17
You save:  A$62.05
S$129.96
List Price:  S$181.95
You save:  S$51.99
HK$774.96
List Price:  HK$1,084.98
You save:  HK$310.01
CHF 82.69
List Price:  CHF 115.77
You save:  CHF 33.08
NOK kr1,041.08
List Price:  NOK kr1,457.56
You save:  NOK kr416.47
DKK kr660.36
List Price:  DKK kr924.54
You save:  DKK kr264.17
NZ$167.99
List Price:  NZ$235.19
You save:  NZ$67.20
د.إ367.26
List Price:  د.إ514.18
You save:  د.إ146.92
৳12,188.92
List Price:  ৳17,064.98
You save:  ৳4,876.05
₹8,451.80
List Price:  ₹11,832.86
You save:  ₹3,381.06
RM426.95
List Price:  RM597.75
You save:  RM170.80
₦160,706.97
List Price:  ₦224,996.19
You save:  ₦64,289.21
₨28,187.10
List Price:  ₨39,463.07
You save:  ₨11,275.97
฿3,309.66
List Price:  ฿4,633.66
You save:  ฿1,324
₺3,845.79
List Price:  ₺5,384.26
You save:  ₺1,538.47
B$565.91
List Price:  B$792.30
You save:  B$226.38
R1,839.21
List Price:  R2,574.97
You save:  R735.76
Лв172.99
List Price:  Лв242.19
You save:  Лв69.20
₩139,976
List Price:  ₩195,972
You save:  ₩55,996
₪361.83
List Price:  ₪506.58
You save:  ₪144.74
₱5,550.44
List Price:  ₱7,770.84
You save:  ₱2,220.40
¥14,481.05
List Price:  ¥20,274.05
You save:  ¥5,793
MX$1,957.85
List Price:  MX$2,741.07
You save:  MX$783.22
QR364.06
List Price:  QR509.70
You save:  QR145.64
P1,361.73
List Price:  P1,906.48
You save:  P544.74
KSh12,964.33
List Price:  KSh18,150.58
You save:  KSh5,186.25
E£5,073.31
List Price:  E£7,102.84
You save:  E£2,029.52
ብር13,459.34
List Price:  ብር18,843.61
You save:  ብር5,384.27
Kz91,190.88
List Price:  Kz127,670.88
You save:  Kz36,480
CLP$94,946.49
List Price:  CLP$132,928.89
You save:  CLP$37,982.39
CN¥729.42
List Price:  CN¥1,021.22
You save:  CN¥291.80
RD$5,902.61
List Price:  RD$8,263.89
You save:  RD$2,361.28
DA13,288
List Price:  DA18,603.74
You save:  DA5,315.73
FJ$225.56
List Price:  FJ$315.80
You save:  FJ$90.23
Q770.30
List Price:  Q1,078.46
You save:  Q308.15
GY$20,924.33
List Price:  GY$29,294.90
You save:  GY$8,370.57
ISK kr12,940.45
List Price:  ISK kr18,117.15
You save:  ISK kr5,176.69
DH926.13
List Price:  DH1,296.62
You save:  DH370.49
L1,709.82
List Price:  L2,393.82
You save:  L683.99
ден5,441.97
List Price:  ден7,618.98
You save:  ден2,177
MOP$801.19
List Price:  MOP$1,121.71
You save:  MOP$320.51
N$1,867.19
List Price:  N$2,614.14
You save:  N$746.95
C$3,690.56
List Price:  C$5,166.94
You save:  C$1,476.37
रु13,561.38
List Price:  रु18,986.48
You save:  रु5,425.09
S/367.72
List Price:  S/514.83
You save:  S/147.10
K405.78
List Price:  K568.11
You save:  K162.33
SAR374.97
List Price:  SAR524.97
You save:  SAR150
ZK2,781.79
List Price:  ZK3,894.63
You save:  ZK1,112.83
L440.50
List Price:  L616.72
You save:  L176.22
Kč2,204.44
List Price:  Kč3,086.31
You save:  Kč881.86
Ft35,783.07
List Price:  Ft50,097.73
You save:  Ft14,314.66
SEK kr965.37
List Price:  SEK kr1,351.56
You save:  SEK kr386.18
ARS$117,540.76
List Price:  ARS$164,561.77
You save:  ARS$47,021
Bs693.19
List Price:  Bs970.49
You save:  Bs277.30
COP$426,824.69
List Price:  COP$597,571.64
You save:  COP$170,746.95
₡50,658.12
List Price:  ₡70,923.39
You save:  ₡20,265.27
L2,602.65
List Price:  L3,643.81
You save:  L1,041.16
₲803,267.16
List Price:  ₲1,124,606.16
You save:  ₲321,338.99
$U4,205.86
List Price:  $U5,888.38
You save:  $U1,682.51
zł378.54
List Price:  zł529.98
You save:  zł151.43
Already have an account? Log In

Transcript

Once you have identified the use case and also specified the strategic details of using blockchain in your solution, the next step you need to do is to determine the consensus mechanism more suited to your use case, you need to choose a consensus mechanism as per your use case requirement. For example, if you are going for a voting application, then you might use delegated proof of stake or if you are going for data storage of health records, then proof of work algorithm might be more suited. Depending upon your requirement and problem at hand. You need to devise consensus for validation and updation of blockchain ledger. There are many consensus mechanisms available in the market. But make sure that your chosen consensus mechanism is most suited for the use case.

After identifying consensus mechanism, you need to remind the blockchain platform or project which is most desired for your use case.

Sign Up

Share

Share with friends, get 20% off
Invite your friends to LearnDesk learning marketplace. For each purchase they make, you get 20% off (upto $10) on your next purchase.