An overview of alternative consensus mechanisms

Quick Take

• Consensus mechanisms are a key piece in any blockchain network that impacts decentralization, speed, and security.
• The issues with popular consensus algorithms like Proof of Work and Proof of Stake have led to newer means of achieving consensus which improve upon the faults of earlier protocols. 
• The use and development of new consensus mechanisms can allow for blockchains to reach agreement based on what they deem important in the system.

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