I am familiar with the proof of work method and a little with the proof of stake method. Is there any more methods that are out there and how do they work?
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A few others on top of my head, in addition to variations of PoS (DPoS, LPoS, etc)
- Proof of Importance (PoI): kinda like PoS, but stake here is the total transaction amount (greater than some vested amount of coin)
- Proof of Authority (PoA): transactions are validated by selected validators
- Proof of Burn (PoB): please refer to this SE question: How does Proof of Burn work?
