Comparative evaluation of consensus mechanisms in cryptocurrencies

  title={Comparative evaluation of consensus mechanisms in cryptocurrencies},
  author={Shihab Shahriar Hazari and Qusay H. Mahmoud},
  journal={Internet Technology Letters},
The Bitcoin cryptocurrency allows entities in a peer‐to‐peer network to reach consensus about the state of the blockchain through a set of cryptographic algorithms and economic incentives. Bitcoin uses a proof of work system, but there are other consensus mechanisms used by other cryptocurrencies. The performance of a cryptocurrency depends on the consensus mechanism used. This paper presents the results of a comparative evaluation that has been conducted on various significant consensus… 

A Review of Blockchain Consensus Mechanisms: State of the Art and Performance Measures

This paper presents a systematic review of existing mainstream consensus mechanisms to highlight their strengths, impulsions and limitations, and the evolution of consensus mechanisms.

Delegated Proof of Accessibility (DPoAC): A Novel Consensus Protocol for Blockchain Systems

This work introduces Delegated Proof of Accessibility (DPoAC), a new consensus technique that employs secret sharing, PoS with random selection, and an interplanetary file system (IPFS), and qualitatively analyze and compare the scheme based on performance parameters against existing mainstream consensus protocols in the context of IoT/IIoT networks.

MBCP: Performance Analysis of Large Scale Mainstream Blockchain Consensus Protocols

A performance matrix of mainstream consensus protocols based on different parameters like Degree of decentralization, Latency, Fault Tolerance Rate, Scalability, etc is proposed to help inappropriate protocol selection and further research on strengthening trust and ownership in the technology.

PREStO: A Systematic Framework for Blockchain Consensus Protocols

A five-dimensional design space with a modular structure in which protocols can be compared and understood, and a dynamic scheme—termed the PREStO framework—which aids the interaction between stakeholders of different backgrounds and which enables systematic reasoning about blockchain protocols.

Proposal of a methodology for the sustainability assessment of cryptocurrencies

A holistic definition of sustainability in the context of cryptocurrencies is proposed and a methodology for assessing a cryptocurrencies’ sustainability is derived and subsequently applied to ten cryptocurrencies.

Augmenting Zero Trust Architecture to Endpoints Using Blockchain: A Systematic Review

A systematic review of ZTA models, real-world architectures with the focus on endpoints, and blockchain-based intrusion detection systems is performed, and the potential of blockchain’s immutability fortifying the detection process is discussed.

Accounting for Holdings of Cryptocurrencies in the Slovak Republic: Comparative Analysis

The aim of the paper is to compare the accounting of cryptocurrencies in Slovakia with the requirements and/or recommendations by other standards setters and authorities and look at the existing IFRS and apply a principles-based approach.

DLT design and robustness verification based on random graph theory

  • R. Brooks
  • Computer Science
    2022 International Conference on Modern Network Technologies (MoNeTec)
  • 2022
A simple light weight mining (LWM) alternative is described and Erdös's random graph theory is used to prove the effectiveness and efficiency of LWM, an example of howrandom graph theory can be used to design and implement robust DLT systems.

Prevention of Rumor Spreading Based on Blockchain

  • Hang GaoTiegang Gao
  • Computer Science
    2020 IEEE 20th International Conference on Communication Technology (ICCT)
  • 2020
A novel rumor prevention model based on blockchain is proposed in this paper that can effectively prevent the spreading of rumor in social media networks.

Augmenting zero trust architecture to endpoints using blockchain: A state‐of‐the‐art review

A state‐of‐the‐art review of ZTA models, real‐world architectures with a focus on endpoints, and blockchain‐based intrusion detection systems is performed and the potential of blockchain's immutability fortifying the detection process is discussed.



A Survey about Consensus Algorithms Used in Blockchain

This paper presents a review of the Blockchain consensus algorithms that have been researched and that are being applied in some well-known applications at this time.

PPCoin: Peer-to-Peer Crypto-Currency with Proof-of-Stake

Under this hybrid design proof-of-work mainly provides initial minting and is largely non-essential in the long run thus providing an energyefficient and more cost-competitive peer-to-peer crypto-currency.

An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends

An overview of blockchain architechture is provided and some typical consensus algorithms used in different blockchains are compared and possible future trends for blockchain are laid out.

SoK: Research Perspectives and Challenges for Bitcoin and Cryptocurrencies

This work identifies three key components of Bit coin's design that can be decoupled, and maps the design space for numerous proposed modifications, providing comparative analyses for alternative consensus mechanisms, currency allocation mechanisms, computational puzzles, and key management tools.

Cryptocurrency performance analysis of Burstcoin mining

Burstcoin is a cryptocurrency which differ from the well-known Bitcoin, among several integral component which encompass any cryptocurrency, the mining process is one which differ greatly between t

The first glance at the simulation of the Tangle : discrete model

Preliminary results obtained with the computer simulation of the Tangle directed acyclic graph adapted for decentralized information storage are presented, including analysis of cumulative weight and stability of tips number, for different tip selection mechanisms.

Practical byzantine fault tolerance and proactive recovery

A new replication algorithm, BFT, is described that can be used to build highly available systems that tolerate Byzantine faults and is used to implement the first Byzantine-fault-tolerant NFS file system, BFS.

Analysis of the XRP Ledger Consensus Protocol

This work presents a detailed explanation of the algorithm and derive conditions for its safety and liveness of the XRP Ledger Consensus Protocol.

The Byzantine Generals Problem

It is shown that, using only oral messages, the problem of a group of generals camped with their troops around an enemy city is solvable if and only if more than two-thirds of the generals are loyal; so a single traitor can confound two loyal generals.