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Bitcoin software also supports a variety of other consensus algorithms, depending on what additional features are required. Up to the date of this article, few blockchains exist that support this capability. Only four blockchains (Bitcoin, Ethereum, Dash, and Lisk) implement all consensus algorithm variants required to allow the miners/validators to vote to choose the consensus algorithm themselves, and only Bitcoin, Ethereum, and Dash have implemented transaction malleability as a hard-fork. The transaction malleability hard-fork is an important bug fix in Bitcoin that was introduced by implementing transaction versioning. This allowed for transactions to be verified as valid (and not spendable) for past (and future) blocks, even though the blockchain revealed they were invalid in the present block. Bitcoin and Ethereum implement a similar transaction-versioning feature, but in the case of Ethereum, it is used for programmatic controlled changes to the blockchain, allowing for upgrades and hard forks.: 219 220
Consensus algorithm variants
The bitcoin blockchain has the following consensus algorithm variants (using the same seven consensus rules as presented in Appendix A.):
Proof-of-Work (POW)
In proof-of-work systems, nodes compete to solve a computationally difficult puzzle called a block-generation puzzle. The winner will be rewarded by being allowed to create the next block, and will "verify" that the block they create has not been changed since they solved the puzzle.: ch.
Proof-of-Stake (POS)
In proof-of-stake, instead of mining for bitcoins or bitcoin cash, block creation is based on how many coins (also called "stake") a node holds.: ch.
https://pin-up-casino-ruskiy.com/ Specifically, in proof-of-stake, instead of having to solve a puzzle to generate a new block, block creation is based on how many coins a node possesses.: 221
The transaction outputs of transaction t are collected and form a list with one output for each of the coins in t, along with a “witness” output of t that contains t’s signature which authorizes spending of the coins. To generate a new block, the first node to generate a solution to the block-generation puzzle that passes validation is allowed to propose the change in the blockchain (adding new outputs to the block),
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