Analysis of the main consensus protocols of blockchain | Zendy

Shijie Zhang | Zendy; Jong-Hyouk Lee | Zendy

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Analysis of the main consensus protocols of blockchain

Author(s) -

Shijie Zhang,

Jong-Hyouk Lee

Publication year - 2019

Publication title -

ict express

Language(s) - English

Resource type - Journals

ISSN - 2405-9595

DOI - 10.1016/j.icte.2019.08.001

Subject(s) - blockchain , cryptocurrency , computer science , protocol (science) , consensus algorithm , byzantine fault tolerance , probabilistic logic , computer security , consensus , cryptography , distributed ledger , fault tolerance , distributed computing , multi agent system , data science , medicine , alternative medicine , pathology , artificial intelligence

Blockchain is the core technology of many cryptocurrencies. Blockchain as a distributed ledger technology has received extensive research attention. In addition to cryptography and P2P (peer-to-peer) technology, consensus protocols are also a fundamental part of the blockchain technology. A good consensus protocol can guarantee the fault tolerance and security of the blockchain systems. The consensus protocols currently used in most blockchain systems can be broadly divided into two categories: the probabilistic-finality consensus protocols and the absolute-finality consensus protocols. This paper introduces some of the main consensus protocols of these two categories, and analyzes their strengths and weaknesses as well as the applicable blockchain types.

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