Abstract
In the world of computing, Peer-to-Peer and Blockchain systems are gaining ground as they operate without central parties like companies, organizations, or individuals. Despite their popularity, the performance of distributed systems is limited by the consensus mechanism used. There are various algorithms in use, and there is always room for improvement. Some of these protocols are Proof of Work (PoW), Proof of Stake (PoS), and Proof of Reputation (PoR). Hence, it's crucial to compare these consensus algorithms for a better understanding of blockchain execution. Our paper examines various factors that impact blockchain performance, such as algorithms, security, scalability, and energy efficiency. We explore ways for developers to enhance the consensus mechanism by changing the way nodes participate in the blockchain based on factors like work, stake, and reputation. We compare a few selected consensus algorithms based on Energy usage, Scalability, Immutability, Tolerance of adversaries and Throughput.
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El Mezouari, H., Omary, F. (2023). Studying Consensus Mechanisms for Blockchain. In: Idrissi, A. (eds) Modern Artificial Intelligence and Data Science. Studies in Computational Intelligence, vol 1102. Springer, Cham. https://doi.org/10.1007/978-3-031-33309-5_17
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DOI: https://doi.org/10.1007/978-3-031-33309-5_17
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