Current Status and Future Development of Public Blockchain Consensus Protocol
Consensus protocols (algorithms) are the core key to blockchain technology, fundamentally determining the performance, security, and availability of blockchain networks. This article briefly explains the origins, design concepts, advantages, disadvantages, and some well-known improvement solutions of the two most mainstream public blockchain consensus protocols, PoW (Proof of Work) and PoS (Proof of Stake). Finally, this article takes Ethereum, the most famous public blockchain smart contract platform in the world, as an example to summarize the future development prospects and significant strategic significance of the Ethereum PoS solution.