Analyzing the Prospects of Blockchain in Healthcare Industry

Table 2

Blockchain algorithms.

S.no	Name of the algorithm	Year	Invented by	Purpose
1	Proof of work (PoW)	1993	Cynthia Dwork and Moni Naor	Creates new blocks in sequence of chain and also confirm transactions occur in each block.
2	Proof of stake (PoS)	2011	Sunny king	All blocks of chain are validated on the basis of strut of participants of network.
3	Delegated proof-of-stake (DPoS)	2014	Daniel Larimer	It works like voting system so participants vote to help the state of new block according to validators.
4	Proof of burn	2014	Lain Stewart	Works to reduce rate of energy consumption.
5	Proof of elapsed time (PoET)	2016	Intel	All participants of networks will wait for randomly time period, then who finished on time get new block and validates that block.
6	Proof of space	2015	Dziembowski.	Usage of space instead of computation is predominant in this algorithm rest of the functionality is very same as to proof of work algorithm.
7	Delayed proof of work (dPoW)	2016	Komodo project	It is a security mechanism that make use of bitcoin blockchain hashpower to enhance network security.
8	Proof of authority (PoA)	2017	Gavin wood	It delivers comparatively fast transactions through a consensus mechanism.
9	Leased proof-of-stake	2017	A variant of proof of stake	Any participant has a possibility to lease out their balance to mining nodes and these mining nodes share a profit with participants.
10	Proof of weight	2017	MIT computer Sc. & AI lab	It is a mechanism that gives users a ‘weight’ based on how much cryptocurrency they are holding.