Overview

Including Algorand's (ALGO's) Pure Proof of Stake the number of block chain Consensus models that you are likely to encounter to 4. Though their are several examples that have in one way or another differed significantly enough from the standard model.To a form that could be called their own model. However I intend to address the base models of Proof of work (POW), Proof of stake (POS), Delegated Proof of stake(DPOS), and Pure Proof of stake (PPOS) how they differ from one another. As well as give examples of crypto and crypto services based on each type.

Proof of Work

Proof of Work (POW) can be described as the process in which one party the prover proves to the other party the verifers that a certain amount of computational effort has been expended. The concept was originally purposed by Cynthia Dwork and Moni Naor in 1993 as a deterrent to denial of service attacks. However it has in recent years been adopted by the cryptocurrency community. As a cryptocurrency term it is used when referring to the computational effort that a miner has provably expended while competing to solve sections of the block chain.

This process can be extreamly time sensitive so the (POW) mining is typically left to mining rigs and mining pools. Since transactions require verification the miners retain a gas fee for their service during transactions. Some cryptocurrencies based on POW include Litecoin, Bitcoin, Bitcoin cash, and Doge coin.

Proof of stake

Proof of stake (POS) was created as an alternative option to POW. Unlike POW that requires allot computational power and therefore has high energy requirements. Proof of stake attrubutes mining power to users with a higher % of coins owned in relation to the market. Some popular cryptocurrencies that use POS include Dash Neo and Pivx.

Dash

Dash allows users to run a master node to earn dividends in the form of Dash. A stake of 1,000 dash roughly $68,000 U.S.D can earn the user a 7%apr of Dash. many exchanges/walets offer a staking option for much less however this is different from running a master node.

Pivx

Since someone asked me awhile ago about Pivx i thought i would include it its a POS model block chain that was created from a dash hard fork. Their master nodes seem more difficult to set up but cheaper.

Neo

Though technically Neo uses a Delegated Byzantine Fault Tolerance (dBFT). Since this is one of the derivatives i mentioned in the opening and its not that far of from POS model im including it. Basicaly instead of recieving the cryptocurrency that your staking as a reward. Neo master node produces GAS a different cryptocurrency for the user staking Neo.

Delegated proof of stake

Dpos or delegated proof of stake was invented as an alternative to energy-inefficient consensus of Proof-of-Work blockchains. An alternative to Proof-of-Stake  as well witch are vulnerable to malicious intentions of stake holders and can require a sizable investment. DPoS is designed as an implementation of technology-based democracy, using voting and election process to determine appropriate upgrades to the block chain ledger.

There are several different services/cryptocurrencies based on Dpos including Hive Steemit and Eos. The Hive blog shown above and Steemit blog shown below are fairly similar to how read cash is set up bloggers receive tips on their posts in the form of cryptocurrency.

If your new to steemit and hive all together please consider using my referral to peaked/Hive. I don't have one for Steemit and to me steemit seems less populated.

EOS

EOS is a cryptocurrency  based on the EOSIO blockchain protocol that is designed to be fast free and secure. Using the delegated proof of stake model EOSIO is ideal for dapps and other cryptocurrency games due to the fact that no fees are paid for transactions. This is one of my personal favorite cryptocurrencies for this reason. 

Pure Proof of Stake

Pure Proof-of-Stake is Algorand’s unique consensus protocol. It uses minimal computing power to secure a stakeholders selection. 

Algorand is committed to improving over time by introducing smart contracts, cross-chain interoperability, atomic swaps, and their Algorand Standard Assets (ASAs).  The Algorand’s pure Proof-of-Stake protocol provides a simple solution for the multiple block chain systems utilized with cross chain integration as their protocols main focus.