Several users have expressed dissatisfaction with how major social media platforms dealt misinformation, censorship, privacy, political neutrality, user control, and malicious activities. Decentralized Social Networks, also known as Federated Networks, have emerged as a means to address these concerns.
We have also analyzed more than hundred top crypto-currencies belonging to different categories of consensus algorithms to understand their properties and to implicate different trends in these crypto-currencies. Finally, we have presented a decision tree of algorithms to be used as a tool to test the suitability of consensus algorithms under different criteria.
We have discussed the structure, implementation and applications of blockchain technology. As an emerging technology, blockchain is projected to dominate industry which is why the knowledge of it’s working proves to be useful.