A Comparative Study of Consensus Algorithms for Blockchain

Lamriji, Youssef; Kasri, Mohammed; Makkaoui, Khalid El; Beni‐Hssane, Abderrahim

doi:10.1109/iraset57153.2023.10153031

Cited by 6 publications

(1 citation statement)

References 19 publications

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“…This algorithm highlights the role of smart contracts in managing state transitions and enabling programmable logic on top of the blockchain. (Lamriji et al, 2023) (Akbar et al, 2021). The ProofOfWork procedure takes a block and a difficulty target as input.…”

Section: Potential Implications Of Adopting Claritymentioning

confidence: 99%

BOFUS and CLARITY: streamlining blockchain architecture and assessment for advanced standardization and interoperability in distributed ledger technologies

Saxena,

Chiu

2023

Front. Blockchain

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The Blockchain Organized Framework for Unified Systems (BOFUS) and the Comprehensive Ledger Assessment for Robust Interoperability and Trustworthiness (CLARITY) initiatives address the challenges of understanding, standardizing, and enabling interoperability between diverse blockchain systems. BOFUS is a comprehensive 5-layer model that systematically organizes core blockchain components, while the CLARITY assessment provides a standardized method for evaluating and comparing blockchains using the CONFIGURE acronym. Together, these initiatives aim to facilitate a deeper understanding of blockchain technology, promote effective communication and collaboration between stakeholders, and ultimately advance the development and adoption of distributed ledger technologies. This paper presents an in-depth discussion of the BOFUS architecture and the CLARITY assessment, exploring their utility in various blockchain scenarios and their potential implications for the future of blockchain technology.

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Section: Potential Implications Of Adopting Claritymentioning

confidence: 99%

BOFUS and CLARITY: streamlining blockchain architecture and assessment for advanced standardization and interoperability in distributed ledger technologies

Saxena,

Chiu

2023

Front. Blockchain

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Erdos: A Novel Blockchain Consensus Algorithm with Equitable Node Selection and Deterministic Block Finalization

Sello,

Yong,

Tao

2024

Data Sci. Eng.

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The introduction of blockchain technology has brought about significant transformation in the realm of digital transactions, providing a secure and transparent platform for peer-to-peer interactions that cannot be tampered with. The decentralised and distributed nature of blockchains guarantees the integrity and authenticity of the data, eliminating the need for intermediaries. The applications of this technology are not limited to the financial sector, but extend to various areas, such as supply chain management, identity verification, and governance. At the core of these blockchains is the consensus mechanism, which plays a crucial role in ensuring the reliability and integrity of a system. Consensus mechanisms are essential for achieving an agreement amongst network participants regarding the validity of transactions and the order in which they are recorded on the blockchain. By incorporating consensus mechanisms, blockchains ensure that all honest nodes in the network reach a consensus on whether to accept or reject a block, based on predefined rules and criteria. The aim of this study is to introduce a novel consensus mechanism named Erdos, which seeks to address the shortcomings of existing consensus algorithms, such as the Proof of Work and Proof of Stake. Erdos emphasises security, decentralisation, and fairness. One notable feature of this mechanism is its equitable node-selection algorithm, which ensures equal opportunities for all nodes to engage in block creation and validation. In addition, Erdos implements a deterministic block finalisation process that guarantees the integrity and authenticity of the blockchain. The main contribution of this research lies in its innovative approach to deterministic block finalisation, which effectively mitigates the various security risks associated with blockchain systems.

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Enhancing Banking Transaction Security with a Hybrid Access Control Consensus Algorithm Through Blockchain-Enabled Checkpoint Model

Chorey,

Sahu

2024

SN COMPUT. SCI.

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A Comparative Study of Consensus Algorithms for Blockchain

Cited by 6 publications

References 19 publications

BOFUS and CLARITY: streamlining blockchain architecture and assessment for advanced standardization and interoperability in distributed ledger technologies

BOFUS and CLARITY: streamlining blockchain architecture and assessment for advanced standardization and interoperability in distributed ledger technologies

Erdos: A Novel Blockchain Consensus Algorithm with Equitable Node Selection and Deterministic Block Finalization

Enhancing Banking Transaction Security with a Hybrid Access Control Consensus Algorithm Through Blockchain-Enabled Checkpoint Model

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