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Blockchain technology has recently emerged as one of the most innovative solutions on the market. It is predicted to become as popular as the internet was in its early days during the 1980s. With the use of a consensus algorithm, the blockchain creates a cryptographic record that is unalterable. The system uses a combination of repeated sequence hashing and failure tolerance to achieve this outcome. Decentralization, immutability, anonymity, and accountability are just a few of the key features of blockchain. Due to these attributes, many businesses in various industries are now exploring the possibility of incorporating blockchain into their IT systems. Consensus algorithms are a vital component of blockchain technology and play a crucial role in ensuring the reliability and efficiency of the blockchain. The Raft Consensus prevents the generation of new blocks until transactions are confirmed. This also saves storage space, particularly during periods of low transaction activity, as unoccupied blocks do not consume storage space. To evaluate the efficiency of the Raft consensus algorithm, a simulation of a roaming services application for mobile network operators (MNOs) was performed. This simulation assessed the blockchain's efficiency in terms of network performance. The results indicate that implementing this technique could significantly increase transaction volumes. [ABSTRACT FROM AUTHOR]

Blockchain technology has recently emerged as one of the most innovative solutions on the market. It is predicted to become as popular as the internet was in its early days during the 1980s. With the use of a consensus algorithm, the blockchain creates a cryptographic record that is unalterable. The system uses a combination of repeated sequence hashing and failure tolerance to achieve this outcome. Decentralization, immutability, anonymity, and accountability are just a few of the key features of blockchain. Due to these attributes, many businesses in various industries are now exploring the possibility of incorporating blockchain into their IT systems. Consensus algorithms are a vital component of blockchain technology and play a crucial role in ensuring the reliability and efficiency of the blockchain. The Raft Consensus prevents the generation of new blocks until transactions are confirmed. This also saves storage space, particularly during periods of low transaction activity, as unoccupied blocks do not consume storage space. To evaluate the efficiency of the Raft consensus algorithm, a simulation of a roaming services application for mobile network operators (MNOs) was performed. This simulation assessed the blockchain's efficiency in terms of network performance. The results indicate that implementing this technique could significantly increase transaction volumes. [ABSTRACT FROM AUTHOR]