In this, the group members have to follow the decisions which are in the majority.
The rest who is not in favor of the decision also have to go with the majority.
Each one of them has the right to suggest some good ideas and techniques, but the majority of people from the group will be in favor of the one idea that will help them the most.Other individuals in the group have to deal with this decision whether they liked it or not.
The delegates are responsible for achieving consensus during the generation and validation of new blocks.
In this, solutions to a problem are pre-stored in digital storages like hard disks.
Whenever storage has been plotted as in when storage gets filled with solutions then that miner can take part in the block creation process.
You may all have doubts, How does consensus algorithm is being the major part of Blockchain.
This network rules based on, if the decision doesn't give benefits but comes from majority votes means the choice won't implement.
This theory has built to create a successful network system.
That’s why blockchain consensus algorithm methods had implemented to run a fairness online world.
Needs consensus Algorithm for Blockchain
The main reason to implemented consensus algorithm for blockchain is; it Is the distributed system even if a single mistake occurs on one node means totally gets collapsed and the whole nodes can get hacked by hackers.
If anyone can create their own currency, First of all, why should they consider cryptocurrency algorithms?
Some of them are designed for various types of cryptocurrencies at once, some are global.
History & Background of X11:
X11 was developed to overcome some issues combined with previously used cryptocurrency mining algorithms like SHA-256 or Scrypt.
Compared with other algorithms like SHA-256 and Scrypt, X11 is less intensive and so use less electricity.
Therefore, you will see accordingly lower electricity costs at the end of the month.
There are several consensus mechanisms being developed and one of these is called Proof-of-Burn (PoB).
The more coins a user burns, the chance of his getting selected for mining next time increases accordingly.
Proof of burn can be executed in various ways.
For instance, the coin burned might be that of the local cryptocurrency or that of an alternative cryptocurrency.
Much like with Bitcoin and the need to put resources into progressively ground-breaking mining as time passes by, you’ll need to burn more coins after some time so as to keep up your chances of being chosen for mining the following block.
While most public addresses are produced from a private key, and the private key holder at that point approaches any coins sent to that address, an eater address is an arbitrarily created location that isn’t related with a private key.