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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Bibliographic Details
Published in:ICT express Vol. 6; no. 2; pp. 93 - 97
Main Authors: Zhang, Shijie, Lee, Jong-Hyouk
Format: Journal Article
Language:English
Published: Elsevier B.V 01.06.2020
Elsevier
한국통신학회
Subjects:
Blockchains
Consensus protocols
Cryptocurrencies
전자/정보통신공학
Cryptocurrencies
Consensus protocols
Blockchains
ISSN:2405-9595, 2405-9595
Online Access:Get full text
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Summary: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.
ISSN:2405-9595
2405-9595
DOI:10.1016/j.icte.2019.08.001