Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS) are the most common consensus mechanisms. Since the introduction of Proof of Work (PoW) enabling Bitcoin, many more consensus mechanisms have been developed. Some more successful than others, and all with their unique qualities. But how do we rank the most relevant protocols? We rank them based on market capitalization.
Our ranking approach is simple. Proof of Work empowers Bitcoin. So, we link Bitcoin's market cap to Proof of Work. Proof of Work empowers Ethereum as well. So, we also link Ethereum's market cap to Proof of Work. But as soon as Ethereum switches to Proof of Stake (Casper), we will link Ethereum's value to Proof of Stake. And so on. We base ourselves on live data from CoinMarketCap and cover for their Top 100 ranking of cryptocurrencies (coins and tokens). Taking such a broad scope ensures that we will find more than just the typical consensus mechanisms.