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Why the new consensus mechanism is needed in blockchain technology?

Title
Why the new consensus mechanism is needed in blockchain technology?
Author
Scott Uk-Jin Lee
Issue Date
2020-11
Publisher
IEEE
Citation
2020 Second International Conference on Blockchain Computing and Applications (BCCA), Page. 92-99
Abstract
The Blockchain with PoW consensus was first developed to solve the cryptocurrency double-spending and byzantine fault problem. The PoW consensus solved the problem very effectively. But due to its high computation and specialized hardware need, a lot of questions from society has been raised on the PoW consensus. To solve the limitations of PoW, a lot of other consensuses have been proposed in the literature as an alternative solution of PoW. However, the other consensus has its own benefits and drawbacks. So, to understand the consensus mechanisms our paper first describes the internal architecture of blockchain and then explain five consensuses of the blockchain network with its detailed comparative analysis of internal characteristic. We believe this comparative analysis will be helpful for those researchers who need to understand the major characteristics that a given consensus offer for their work.
URI
https://ieeexplore.ieee.org/document/9274461?arnumber=9274461&SID=EBSCO:edseeehttps://repository.hanyang.ac.kr/handle/20.500.11754/165241
ISBN
978-1-7281-8370-1; 978-1-7281-8369-5
DOI
10.1109/BCCA50787.2020.9274461
Appears in Collections:
ETC[S] > 연구정보
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