Research Area:  Blockchain Technology

Abstract:

In 2008, Blockchain was introduced to the world as the underlying technology of the Bitcoin system. After more than a decade of development, various Blockchain systems have been proposed by both academia and industry. This paper focuses on the consensus algorithm, which is one of the core technologies of Blockchain. In this paper, we propose a unified consensus algorithm process model that is suitable for Blockchains based on both the chain and directed acyclic graph (DAG) structure. Subsequently, we analyze various mainstream Blockchain consensus algorithms and classify them according to their design in different phases of the process model. Additionally, we present an evaluation framework of Blockchain consensus algorithms and then discuss the security design principles that enable resistance from different attacks. Finally, we provide some suggestions for selecting consensus algorithms in different Blockchain application scenarios.

Keywords:  

Author(s) Name:  Xiang Fu, Huaimin Wang & Peichang Shi

Publisher name:  Springer

DOI:  10.1007/s11432-019-2790-1

Volume Information:  volume 64, Article number: 121101 (2021)

Paper Link:   https://link.springer.com/article/10.1007/s11432-019-2790-1