A Review on Consensus Algorithms in Blockchain

Authors

Abstract:

Block chain technology is a decentralized data storage structure based on a chain of data blocks that are related to each other. Block chain saves new blocks in the ledger without trusting intermediaries through a competitive or voting mechanism. Due to the chain structure or the graph between each block with its previous blocks, it is impossible to change blocking data. Block chain architecture builds trust in a peer-to-peer network, without intermediary, through nodes within the network and according to different algorithms. In this paper, we intend to explain the mechanism of each proof-based consensus algorithm ,vote-base algorithm and the directional non-circle-based graph.

Upgrade to premium to download articles

Sign up to access the full text

Already have an account?login

similar resources

A Review of BlockChain

Blockchain is an emerging technology for decentralized and transactional data sharing across a large network of untrusted participants. It enables new forms of distributed software architectures, where components can find agreements on their shared states without trusting a central integration point or any particular participating components. Considering the block- chain as a software connector...

full text

A Review of BlockChain

Blockchain is an emerging technology for decentralized and transactional data sharing across a large network of untrusted participants. It enables new forms of distributed software architectures, where components can find agreements on their shared states without trusting a central integration point or any particular participating components. Considering the block- chain as a software connector...

full text

Blockchain Consensus

In this paper, we present a new definition of Byzantine consensus that applies to blockchains, applications that allow to transfer digital assets through transactions. More precisely, a blockchain is a distributed abstraction where participants must reach a consensus on a unique block of transactions to be appended to the chain. This new consensus definition requires a validity property based o...

full text

An Analysis of Attacks on Blockchain Consensus

We present and validate a novel mathematical model of the blockchain mining process and use it to conduct an economic evaluation of the double-spend attack, which is fundamental to all blockchain systems. Our analysis focuses on the value of transactions that can be secured under a conventional double-spend attack, both with and without a concurrent eclipse attack. We account for an attacker ca...

full text

Solida: A Blockchain Protocol Based on Reconfigurable Byzantine Consensus

The decentralized cryptocurrency Bitcoin has experienced great success but also encountered many challenges. One of the challenges has been the long confirmation time. Another challenge is the lack of incentives at certain steps of the protocol, raising concerns for transaction withholding, selfish mining, etc. To address these challenges, we propose Solida, a decentralized blockchain protocol ...

full text

A Narrative Review of Blockchain in Healthcare: Applications and challenges

Introduction: Healthcare as an industry has unique requirements such as patient security and privacy, interoperability, sharing, transmission, and access control of patient data. On the other hand, the advantages of blockchain technology and the compliance of these advantages with the requirements of the health industry have encouraged researchers to investigate the methods of applying blockcha...

full text

My Resources

Save resource for easier access later

Save to my library Already added to my library

{@ msg_add @}


Journal title

volume 8  issue 1

pages  31- 42

publication date 2020-02

By following a journal you will be notified via email when a new issue of this journal is published.

Keywords

No Keywords

Hosted on Doprax cloud platform doprax.com

copyright © 2015-2023