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http://dx.doi.org/10.7236/JIIBC.2019.19.3.25

A Study on Consensus Algorithm based on Blockchain  

Yoo, Soonduck (Dept. of Business Administration, Hansei University)
Publication Information
The Journal of the Institute of Internet, Broadcasting and Communication / v.19, no.3, 2019 , pp. 25-32 More about this Journal
Abstract
The core of the block chain technology is solving the problem of agreement on double payment, and the PoW, PoS and DPoS algorithms used for this have been studied. PoW in-process proofs are consensus systems that require feasible efforts to prevent minor or malicious use of computing capabilities, such as sending spam e-mail or initiating denial of service (DoS) attacks. The proof of the PoS is made to solve the Nothing at stake problem as well as the energy waste of the proof of work (PoW) algorithm, and the decision of the sum of each node is decided according to the amount of money, not the calculation ability. DPoS is that a small number of authorized users maintain a trade consensus through a distributed network, whereas DPS provides consent authority to a small number of representatives, whereas PoS has consent authority to all users. If PoS is direct democracy, DPoS is indirect democracy. This study aims to contribute to the continuous development of the related field through the study of the algorithm of the block chain agreement.
Keywords
Blockchain; Consensus Algorithm; Double Payment; Proof of work; Proof of stake; Delagted proof os stake;
Citations & Related Records
Times Cited By KSCI : 3  (Citation Analysis)
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