·      Proof of Work (PoW): Developed by Bitcoin, this consensus method forces users (miners) to use computer power to solve challenging mathematical puzzles. A new block is added to the blockchain and a reward is given to the first miner to solve the riddle. Although PoW is famed for its security, it uses a lot of energy and processing resources.

·      Proof of Stake (PoS): In PoS, the ownership or stake of the participants in the cryptocurrency determines the likelihood of generating a new block. Based on the amount of cryptocurrency they own and "stake" as collateral, validators are selected to create blocks. In comparison to PoW, PoS is more scalable and energy-efficient.

·      Proof of Elapsed Time (PoET) is a permissioned network-specific consensus mechanism. The person who requests the smallest waiting time is chosen to design the following block, while other participants choose a random waiting period. For fairness, PoET makes use of hardware-based timers or trusted execution contexts.

·      Proof of Capacity (PoC): This consensus technique requires users to demonstrate their storage capacity in order to be allowed to add new blocks. A substantial fraction of the participants' hard drive space is set aside, and the likelihood of mining a block increases with the amount of storage space made available.

·      Delegated Proof of Stake (DPoS): is a Proof of Stake variant in which users elect delegates to approve transactions and build blocks on their behalf. Blocks are produced alternately by a select group of duly chosen delegates. High transaction throughput and quicker block confirmation times are provided by DPoS.

·      Practical Byzantine Fault Tolerance (PBFT): was created specifically for networks with permissions. It depends on a predefined group of validators exchanging messages to decide on the transaction sequence in unanimity. Because of its high throughput and low latency, PBFT is a good fit for enterprise applications.

·      Proof of Burn (PoB): To demonstrate their dedication to the network, PoB members must burn or destroy a predetermined quantity of cryptocurrency. Coin burning lowers the total supply and offers evidence of investment. PoB synchronizes participant incentives with the network's long-term viability.