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Evolution of Consensus Algorithms for Scalable Blockchain Networks

  • Unique Paper ID: 174658
  • Volume: 11
  • Issue: 11
  • PageNo: 259-264
  • Abstract:
  • One of the key technologies for various cryptocurrencies is blockchain. Because of its characteristics, including stability, security, inalterability, and decentralization, blockchain is currently the subject of much research in the security domain. In blockchain technology, the transactions can be done securely with the help of consensus algorithms in a distributed system which has P2P connections of blocks, without interference of mediator [1]. Therefore, in blockchain technology, consensus algorithms are essential to maintaining the integrity and security of a distributed network. It is primarily employed to uphold blockchain technology's credibility. The algorithms used for consensus are separated into two categories: voting-based and proof-based. The primary consensus algorithms of these two categories are discussed in this paper along with their advantages, disadvantages, and the kinds of blockchains they work with.
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  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 11
  • PageNo: 259-264

Evolution of Consensus Algorithms for Scalable Blockchain Networks

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