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Overview of Blockchain Consensus Mechanism
Proceedings of the 2020 2nd International Conference on Big Data Engineering, 2020The advent of the Bitcoin system has brought another boom in the Internet era. In a very short time, many Blockchain systems come into being successively, whose decentration, consensus mechanisms, intelligent contract, and other characteristics make them applicable to various fields such as finance, education, medical, technology, etc.
Changqiang Zhang +2 more
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A research on the consensus mechanisms
Applied and Computational Engineering, 2023A distributed and decentralized ledger widely used in the computer science and financial fields called blockchain has provided safe and fast transactions for multiple parties. Also, check the transaction by each node on the blockchain. The consensus mechanism is the core of the blockchain. It lets all the nodes reach an agreement for those transactions,
Jiawei Peng, Yijun Wu, Kunfeng Yuan
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Consensus Mechanism in Enterprise Blockchain
2019 IEEE International Conference on Intelligence and Security Informatics (ISI), 2019From a decentralized to centralized architecture, from a permissionless to a permissioned platform, Blockchain has been adopted and used in business processes referred to as enterprise blockchain. The destiny of blockchain is yet to be entertained. Specifically, the consensus mechanism is transformed PBFT algorithm to Smart Contract, then, chain-code ...
Ayokomi Lasisi, Sonya H. Y. Hsu
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A Survey on Consensus Mechanisms for Blockchain Technology
2021 International Conference on Artificial Intelligence, Big Data and Algorithms (CAIBDA), 2021Blockchain technology has been significantly influencing the global economy in recent years. Meanwhile, the inherent consensus problem within blockchain systems turns out to be rather challenging in practice, since malicious parties would try various ways of attacks on the system, which should be carefully addressed by specifically designed consensus ...
Weiwei Gu, Jianan Li, Zekai Tang
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Research on Consensus Mechanism in Microgrid Transaction
2021 International Conference on Artificial Intelligence, Big Data and Algorithms (CAIBDA), 2021With the development and wide application of new energy, the transaction information is huge. In this paper, a delegated power authority mechanism (DPPGC) is designed to achieve local block consensus, to ensure transaction security and the stability of the blockchain network.
Ming-Hui Deng +3 more
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Consensus Mechanisms for the Blockchain
2021In this chapter, we discuss the fundamental elements of the design of the blockchain. We then examine the equilibrium properties of consensus mechanisms for the blockchain under both proof of work and proof of stake when the blockchain is permissionless, i.e., when there is free entry into becoming a ...
Joshua S. Gans, Neil Gandal
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DISTRIBUTED CONSENSUS MECHANISM
2023The distributed consensus algorithm which is a collection of guidelines or protocols known as consensus algorithms enable dispersed nodes to decide on a value or course of action based on messages from other nodes as well as their own local data. The following characteristics are the goals of consensus algorithms: fault-tolerance, validity, agreement ...
D. Geethanjali +3 more
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An Improved Consensus Mechanism for Blockchain
2018When consistency and stability is becoming more and more important in network, blockchain is emerging as a potential solution for this challenge. The network is always the focus of the blockchain for it is the foundation of all the services. It is still a challenge on how to improve the performance of the network especially in the implementation of a ...
Hong Guo 0005 +6 more
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Robust Distributed Voting Mechanism by Consensus
2018 IEEE/ACM International Conference on Advances in Social Networks Analysis and Mining (ASONAM), 2018This work proposes a model to manage votes in a distributed network. Each node votes for one of the alternatives. The vote is shared with the neighbors, and the process repeats until it converges and all the nodes have the final result. If all nodes behave properly, all nodes know the final result for the voting.
Miguel Rebollo +3 more
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Comparative evaluation of consensus mechanisms in cryptocurrencies
Internet Technology Letters, 2019The Bitcoin cryptocurrency allows entities in a peer‐to‐peer network to reach consensus about the state of the blockchain through a set of cryptographic algorithms and economic incentives. Bitcoin uses a proof of work system, but there are other consensus mechanisms used by other cryptocurrencies.
Shihab S. Hazari, Qusay H. Mahmoud
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