Analysis of the main consensus protocols of blockchain
Blockchain is the core technology of many cryptocurrencies. Blockchain as a distributed ledger technology has received extensive research attention. In addition to cryptography and P2P (peer-to-peer) technology, consensus protocols are also a fundamental part of the blockchain technology. A good con...
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| Published in: | ICT express Vol. 6; no. 2; pp. 93 - 97 |
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| Main Authors: | , |
| Format: | Journal Article |
| Language: | English |
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Elsevier B.V
01.06.2020
Elsevier 한국통신학회 |
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| ISSN: | 2405-9595, 2405-9595 |
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| Abstract | Blockchain is the core technology of many cryptocurrencies. Blockchain as a distributed ledger technology has received extensive research attention. In addition to cryptography and P2P (peer-to-peer) technology, consensus protocols are also a fundamental part of the blockchain technology. A good consensus protocol can guarantee the fault tolerance and security of the blockchain systems. The consensus protocols currently used in most blockchain systems can be broadly divided into two categories: the probabilistic-finality consensus protocols and the absolute-finality consensus protocols. This paper introduces some of the main consensus protocols of these two categories, and analyzes their strengths and weaknesses as well as the applicable blockchain types. |
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| AbstractList | Blockchain is the core technology of many cryptocurrencies. Blockchain as a distributed ledger technology has received extensive research attention. In addition to cryptography and P2P (peer-to-peer) technology, consensus protocols are also a fundamental part of the blockchain technology. A good consensus protocol can guarantee the fault tolerance and security of the blockchain systems. The consensus protocols currently used in most blockchain systems can be broadly divided into two categories: the probabilistic-finality consensus protocols and the absolute-finality consensus protocols. This paper introduces some of the main consensus protocols of these two categories, and analyzes their strengths and weaknesses as well as the applicable blockchain types. KCI Citation Count: 57 Blockchain is the core technology of many cryptocurrencies. Blockchain as a distributed ledger technology has received extensive research attention. In addition to cryptography and P2P (peer-to-peer) technology, consensus protocols are also a fundamental part of the blockchain technology. A good consensus protocol can guarantee the fault tolerance and security of the blockchain systems. The consensus protocols currently used in most blockchain systems can be broadly divided into two categories: the probabilistic-finality consensus protocols and the absolute-finality consensus protocols. This paper introduces some of the main consensus protocols of these two categories, and analyzes their strengths and weaknesses as well as the applicable blockchain types. |
| Author | Zhang, Shijie Lee, Jong-Hyouk |
| Author_xml | – sequence: 1 givenname: Shijie surname: Zhang fullname: Zhang, Shijie organization: Protocol Engineering Lab., Sangmyung University, Republic of Korea – sequence: 2 givenname: Jong-Hyouk surname: Lee fullname: Lee, Jong-Hyouk email: jonghyouk@sejong.ac.kr organization: Sejong University, Republic of Korea |
| BackLink | https://www.kci.go.kr/kciportal/ci/sereArticleSearch/ciSereArtiView.kci?sereArticleSearchBean.artiId=ART002606544$$DAccess content in National Research Foundation of Korea (NRF) |
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| Title | Analysis of the main consensus protocols of blockchain |
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