Consensus mechanism plays an important role to maintain consistency and security in blockchain platform. In this paper, we have discussed the Byzantine Generals Problem and surveyed several popular consensus mechanisms in current blockchain networks. A comparison table of blockchain consensus is presented...
This whole process is determined by the consensus mechanism adopted by the blockchain network [12,13]. Fig. 2 illustrates the basic structure of a blockchain. A block contains multiple transactions in the block body. The block header includes parameters like the current block’s hash, the ...
The question of who validates transactions on a blockchain depends on the type of consensus mechanism being used. For example,Proof of Work consensus protocolsrely upon miners who use specialized hardware mining equipment. Proof of Stake consensus protocols rely upon stakers who hold coins in their...
2.1.1 Consensus mechanism Consensus mechanism is the core set of rules followed by nodes, which determines various important characteristics of blockchain such as security, scalability, and decentralization. Its purpose is to achieve trustworthy and tamper-resistant transaction records in a decentralized ...
What makes Algorand different from other blockchain platforms? Algorand distinguishes itself through its consensus mechanism, Pure Proof-of-Stake, which eliminates the need for energy-intensive mining and enhances scalability. However, a key differentiator is Algorand's strong resistance to forking. This...
Blockchain (BC) and software-defined networking (SDN) are leading technologies which have recently found applications in several network-related scenarios
Customers Services Insights Company , and as governance mechanisms evolve, new models and voting structures could make staking even more inclusive across the crypto user base, providing new opportunities to more users, as well as completely new blockchains in which to invest. ...
5 Overview of blockchain based resource allocation models in cloud computing and distributed edge computing Blockchain has been applied to design decentralized resource allocation models in cloud computing, distributed edge computing and integrated edge and cloud computing. Therefore, we have considered thi...
Proof of capacity (PoC) is aconsensus mechanismalgorithm used in blockchains that allows forminingdevices in the network to use their available hard drive space to decide mining rights and validate transactions. This is in contrast to using the mining device’s computational power (as in theproo...
Cronos's Proof-of-Authority (PoA) consensus mechanism relies on staked validators that have already been trusted to process and reach consensus on transactions and the state of its blockchain. It is also different from Ethereum'sProof-of-Stake (PoS)model, which randomly chooses itsstaking ...