The word “Blockchain protocol” refers to the agreed-upon techniques and standards. These methods are actually various systems that are employed in the Blockchain network to reach a consensus and validate transactions. Some of these protocols need users to purchase physical mining machines, while others do not.

Blockchain was first introduced in 2008, and it has come a long way since then. Despite the fact that the crypto market is a big aspect of Blockchain technology. A Blockchain is a distributed database made up of several nodes. The nodes in the network are the computers that work together to create this database. Protocols are used to link blocks together. In reality, the protocol is a program that serves as the network’s foundation.

Different protocols are created based on the requirements of the technology in question. Bitcoin, for example, was created with the intention of creating a disintermediated decentralized monetary transfer mechanism. Ethereum is concentrating its efforts on creating a Blockchain platform on which decentralized apps can be further developed using smart contracts.

What Is Blockchain Protocol and How Does It Work?

The word “Blockchain protocol” refers to the agreed-upon techniques and standards. These methods are actually various systems that are employed in the Blockchain network to reach a consensus and validate transactions. Some of these protocols need users to purchase physical mining machines, while others do not.

Some Protocols on the Blockchain

Proof of Work

PoW is the consensus algorithm used by many cryptocurrencies, including Bitcoin. As a result, miners play a part in the overall PoW process. They engage in this process by contributing computational power to their computers and by building mining rigs that are mainly made up of a number of graphic cards. The miner’s reward will be paid to them. Obtaining a real mining gadget necessitates the miner paying for it, which is frequently in the thousands of dollars.

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Proof of Stake

You don’t need to buy expensive mining machines if you use PoS. You can participate in this process if you have a coin and your computer is turned on. This does not necessitate a lot of energy on your behalf, and you will be paid as a miner. The more coins you have, the more shares you have, and the more rewards you receive as a result. To build a mining machine, PoS does not require any startup funds. By simply purchasing coins, someone with greater assets can make more money.

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Proof of Weight

This protocol is used more frequently by some projects, such as the one that has been launched to store files. In the previous approach, the person makes money just on the basis of the number of coins; however, in this way, the number of files is computed in addition to the number of coins. In reality, in addition to possessing coins, this system encourages the user to have an active and significant presence in the network.

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Blockchain Protocols which are well-known

There are various Blockchain protocols, but Bitcoin, Ethereum, Ripple, and Hyperledger are among the most well-known. We’ll go through Bitcoin and Ethereum, two of the most well-known Blockchain systems, in detail


One of the first Blockchain protocols was Bitcoin. The following are the protocol’s primary features:

– This protocol is a Blockchain that is open to the public. It means that anyone can join it and that no permission is required for access.

– This protocol enables users to send and receive money without the necessity of a third party or intermediary.

– Because each node has complete Blockchain information, the network is decentralized.

– Each transaction has its own ID, Bitcoin address, number of Bitcoins moved, and Bitcoin destination address.

– These transactions are created by miners. This means that Bitcoins are mined using a variety of technologies. In exchange for mining, users get rewarded. This transaction is attached to the following block by miners. A new Block is processed every ten minutes, and the transactions that are added to that Block are subsequently logged on the Blockchain. Each transaction requires not only the information from the current transaction, but also the reference from the preceding block. The preceding information is not recognizable, and the miner must solve a cryptographic challenge to obtain it. Furthermore, a system with high power and speed is required to solve this puzzle.


The Ethereum Blockchain looks a lot like the Bitcoin Blockchain. For instance: – It is a public protocol that does not require access authorization.

– It has employed similar technology in the protocol’s primary column. It has employed a hash cryptography function, private and public keys, and a peer-to-peer network, for example.

– However, unlike Bitcoin, which is primarily used for cryptocurrency transactions, Ethereum is intended for a broader range of applications. Ethereum is a Blockchain platform that allows users to establish their own Blockchain applications, such as coins. Ethereum Virtual Machine is the name of this platform.

This is made feasible through smart contracts. Smart contracts are just code that allows you to execute a function. These platforms are part of the Ethereum platform and are based on C++, Java, Python, and JavaScript, which are Ethereum’s proprietary languages. Decentralized applications contain smart contracts and their backend code is run on a decentralized Blockchain. This code’s frontend can be written in any language. The following characteristics are required of a decentralized application:

– It should be completely free and open-source.

– It must be operated in an anonymous manner – It must utilize an encrypted token.

Data must be stored on a decentralized Blockchain and must comply with cryptography requirements.

Because an Ethereum Virtual Machine incorporates smart contracts and decentralized apps, Ethereum adopts a broader definition of Blockchain. Ethereum also allows users to specify how much of their computer power they want to be used for transaction processing, with Gas serving as the unit of measurement. Simple transactions use less gas, whereas complex transactions use more.

Which protocol is the most effective?

All of these protocols are designed to maximizedecentralization. PoS is more popular in the crypto market since obtaining coins and temporary participation in this network is considerably easier and less troublesome. Ethereum, too, switched from a PoW to a PoS system.

Written by Pooyan Ghamari

Founder of Counos Platform

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