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Table 3 Comparison of proof-based consensus algorithm (IoT Suitability Level of compatibility with IoT, Efficiency for DI Level of efficiency in achieving decentralization)

From: Blockchain for decentralization of internet: prospects, trends, and challenges

Consensus algorithm Blockchain type Permission type Decentralization IoT suitability Efficiency for DI Remarks
PoW (Work) Public & private Permissioned Medium Yes High High Computing Power Wastage
PoET Consortium & private Permissioned & permissionless Medium Yes Medium Dependent on Intel’s SGX
PoS (Search) Private Permissioned Low Plausible High Dependent on resource provision
PoAh Public Permissioned & permissionless High Yes High Low computation need when implemented with fog and edge computing
PoP Public Permissionless High Plausible High Requires further research
PoS (Stake), LPoS, dPos Private Permissioned Low Medium to High Plausible Requires further research
PoI Public Permissionless High Plausible Medium Requires further improvements
PoB Public Permissionless High No Low Requires monetary value
PoC Private Permissioned Medium No Medium Uses Storage as mining rights
PoA (Activity) Public Permissionless High No Low Can experience high levels of Delay
PoW (Weight) Consortium & public Permissioned & permissionless Medium Plausible Low Requires monetary values
Casper Consortium & public Permissioned & permissionless High No Medium Unable to meet IoT requirements
PoL Public Permissionless High No Medium Efficiency not high enough for IoT