On Federated and Proof Of Validation Based Consensus Algorithms In Blockchain

被引:12
作者
Ambili, K. N. [1 ]
Sindhu, M. [1 ]
Sethumadhavan, M. [1 ]
机构
[1] Amrita Univ, Amrita Vishwa Vidyapeetham, Amrita Sch Engn, TIFAC CORE Cyber Secur, Coimbatore, Tamil Nadu, India
来源
INTERNATIONAL CONFERENCE ON MATERIALS, ALLOYS AND EXPERIMENTAL MECHANICS (ICMAEM-2017) | 2017年 / 225卷
关键词
Blockchain; Consensus algorithm; Crypto currency; Ripple; Tendermint;
D O I
10.1088/1757-899X/225/1/012198
中图分类号
T [工业技术];
学科分类号
08 ;
摘要
Almost all real world activities have been digitized and there are various client server architecture based systems in place to handle them. These are all based on trust on third parties. There is an active attempt to successfully implement blockchain based systems which ensures that the IT systems are immutable, double spending is avoided and cryptographic strength is provided to them. A successful implementation of blockchain as backbone of existing information technology systems is bound to eliminate various types of fraud and ensure quicker delivery of the item on trade. To adapt IT systems to blockchain architecture, an efficient consensus algorithm need to be designed. Blockchain based on proof of work first came up as the backbone of cryptocurrency. After this, several other methods with variety of interesting features have come up. In this paper, we conduct a survey on existing attempts to achieve consensus in block chain. A federated consensus method and a proof of validation method are being compared.
引用
收藏
页数:9
相关论文
共 15 条
[1]  
Czepluch J. S., 2015, The use of block chain technology in different application domains
[2]   CONSENSUS IN THE PRESENCE OF PARTIAL SYNCHRONY [J].
DWORK, C ;
LYNCH, N ;
STOCKMEYER, L .
JOURNAL OF THE ACM, 1988, 35 (02) :288-323
[3]  
Hillborn Erik, 2016, APPL SMART CONTRACTS
[4]  
Kwon J, 2014, TENDERMINT CONSENSUS
[5]  
Lamport Shostak, 1982, BYZANTINE GENERALS P
[6]  
Mougyar William, 2016, BUSINESS BLOCKCHAIN
[7]  
Nakamoto S., 2008, Bitcoin: A Peer-to-Peer Electronic Cash System
[8]  
Nomura Research Institute, 2015, SURV BLOCK CHAIN TEC
[9]  
Ongaro D, 2014, SEARCH UNDERSTANDABL, DOI DOI 10.1007/0-387-34805-0_21
[10]  
Peters GarethWilliam Efstathios Panayi., 2015, Understanding modern banking ledgers through block chain technologies: Future of transaction processing and smart contracts on the internet of money