TY - GEN
T1 - Contextualizing consensus protocols in blockchain
T2 - 1st IEEE International Conference on Trust, Privacy and Security in Intelligent Systems and Applications, TPS-ISA 2019
AU - Bashar, Golam
AU - Hill, Graham
AU - Singha, Subroto
AU - Marella, Praneeth
AU - Dagher, Gaby G.
AU - Xiao, Jidong
N1 - Publisher Copyright:
© 2019 IEEE.
PY - 2019/12
Y1 - 2019/12
N2 - Consensus protocols are mechanisms that enable a group of entities to reach an agreement on a specific subject. In blockchain systems, consensus protocols are the cornerstone of achieving security and scalability. They not only enable nodes in the network to agree on the valid information that can be added to the ledger while keeping all nodes synchronized, they also establish the sequence of order in which blocks (and consequently transactions) are affixed. In this paper, we provide a comprehensive review of the working principles of the most commonly used consensus protocols in blockchain-based cryptocurrencies. We categorize them based on their permission requirements and perform a thorough comparative evaluation. More specifically, we identify computational difficulty, barrier for entry, platform utilization, and weaknesses in terms of scalability and fairness.
AB - Consensus protocols are mechanisms that enable a group of entities to reach an agreement on a specific subject. In blockchain systems, consensus protocols are the cornerstone of achieving security and scalability. They not only enable nodes in the network to agree on the valid information that can be added to the ledger while keeping all nodes synchronized, they also establish the sequence of order in which blocks (and consequently transactions) are affixed. In this paper, we provide a comprehensive review of the working principles of the most commonly used consensus protocols in blockchain-based cryptocurrencies. We categorize them based on their permission requirements and perform a thorough comparative evaluation. More specifically, we identify computational difficulty, barrier for entry, platform utilization, and weaknesses in terms of scalability and fairness.
KW - Blockchain-cryptocurrencies-consensus
UR - http://www.scopus.com/inward/record.url?scp=85082242255&partnerID=8YFLogxK
U2 - 10.1109/TPS-ISA48467.2019.00031
DO - 10.1109/TPS-ISA48467.2019.00031
M3 - Conference contribution
AN - SCOPUS:85082242255
T3 - Proceedings - 1st IEEE International Conference on Trust, Privacy and Security in Intelligent Systems and Applications, TPS-ISA 2019
SP - 190
EP - 195
BT - Proceedings - 1st IEEE International Conference on Trust, Privacy and Security in Intelligent Systems and Applications, TPS-ISA 2019
PB - Institute of Electrical and Electronics Engineers Inc.
Y2 - 12 December 2019 through 14 December 2019
ER -