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A review on consensus algorithm of blockchain
- Source :
- SMC
- Publication Year :
- 2017
- Publisher :
- IEEE, 2017.
-
Abstract
- Blockchain is the basic technology of bitcoin. With the value appreciation and stable operation of bitcoin, blockchain is attracting more and more attention in many areas. Blockchain has the characteristics of decentralization, stability, security, and non-modifiability. It has the potential to change the network architecture. The consensus algorithm plays a crucial role in maintaining the safety and efficiency of blockchain. Using a right algorithm may bring a significant increase to the performance of blockchain application. In this paper, we reviewed the basic principles and characteristics of the consensus algorithms and analyzed the performance and application scenarios of different consensus mechanisms. We also gave a technical guidance of selecting a suitable consensus algorithm and summarized the limitations and future development of blockchain technology.
- Subjects :
- Consensus algorithm
Blockchain
Risk analysis (engineering)
Computer science
Server
0202 electrical engineering, electronic engineering, information engineering
Stability (learning theory)
020206 networking & telecommunications
020201 artificial intelligence & image processing
02 engineering and technology
Subjects
Details
- Database :
- OpenAIRE
- Journal :
- 2017 IEEE International Conference on Systems, Man, and Cybernetics (SMC)
- Accession number :
- edsair.doi...........c5e676385ce3410de49a2802e5fb43a1