A New PoW Consensus of Blockchain Based on Legendre Sequence

Yuan, Ye; Zhao, Yiwen; Su, Ming; Wang, Gang; Liu, Xiaoguang

doi:10.1109/blockchain55522.2022.00033

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Proof Of Work1

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2023

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Cited by 2 publications

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“…PoW's efficiency is also significantly low because miners can only find the nonce through continuous hash calculations, resulting in a slow block generation speed. The maximum transaction processing throughput is around 7 transactions per second, which cannot meet the needs of large-scale commercial applications [5].…”

Section: Proof Of Workmentioning

confidence: 99%

The advance of consensus algorithm in blockchain

Wei

2023

ACE

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As a distributed ledger technology, blockchain has found widespread use in a variety of industries, including finance, the Internet of Things (IoT), healthcare, and manufacturing. This technology addresses the trust issue by converting a low-trust centralized ledger into a highly trusted distributed ledger maintained by various entities. Consensus algorithms are one of the fundamental building blocks of the blockchain, controlling how nodes cooperate and synchronize data to perform secure and reliable activities in a decentralized setting. This paper examines the extant mainstream consensus algorithms, introduces six representative consensus algorithms, analyses their benefits and drawbacks, and discusses the application scenarios and suitability of each consensus algorithm in various blockchain platforms.

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Section: Proof Of Workmentioning

confidence: 99%