Research Area: Blockchain Technology
Blockchain is the foundation of cryptocurrencies and many other industries such as healthcare, supply logistics, and so on. It is a system of distributed ledger that is now attracting lot of research attention. Peer-to-peer and cryptography technologies are essential components of blockchain, as are consensus procedures that ensure blockchain systems’ transparency, decentralization, and security. The Proof of Work (PoW) consensus protocol is now adopted by most blockchain systems, although other variations are available. We examine PoW and its six variants and analyze their pros, cons, scalability, maintenance cost, block generation time, transaction cost, energy consumption, validator selection criteria, mining profitability, and 51% attack in this study.
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Author(s) Name: Poonam Rani & Rajul Bhambay
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Conferrence name: Emerging Technologies in Data Mining and Information Security
Publisher name: Springer
DOI: 10.1007/978-981-19-4193-1_25
Volume Information: pp 261–268
