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The rapid development of blockchain technology and their numerous emerging applications have received huge attention in recent years. The distributed consensus mechanism is the backbone of a blockchain network. It plays a key role in ensuring the network, s security, integrity, and performance. Most current blockchain networks have been deploying t...
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... illustrated in Fig. 1, in the blockchain, transactions (data) are stored in blocks which form an ever-growing sequence (chain) shared among participants in the network. Transactions are the fundamental units of a blockchain. For example, when Alice wants to send money to Bob, she creates a transaction which consists of her address as the input, her digital ...
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This work provides a short but technical introduction to the main building blocks of a blockchain. It argues that a blockchain is not a revolutionary technology but rather a clever combination of three fields: cryptography, decentralization and game theory. In addition, it summaries the differences between a public, private and federate blockchain...
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... For this reason, a consensus comparison is made in Table 2 based on the following characteristics: type, participation, network timing, blockchain type, energy consumption, speed of transaction processing, transaction finality, scalability, and security, with some examples of blockchain applications. This comparison was made based on several research works: [11,[49][50][51][64][65][66][67][68][69][70][71][72]. We define below the main nine characteristics taken into account to prepare this comparison between the different consensus algorithms used in the energy blockchains as per our SLR: ...
Satisfying the world’s rapidly increasing demands in energy via the optimized management of available resources is becoming one of the most important research trends worldwide. When it comes to energy, it is very important to talk about decentralization, security, traceability and transparency. Thus, over the last few years, numerous research works have presented blockchain technology as the best novel business platform enabling a secure, transparent and tamper-proof energy management solution. In this paper, we conducted a systematic literature review (SLR) using the PRISMA framework of the different existing research studies related to the use of the blockchain technology in the energy sector, published between 2008 and 2021. We identified a total of 769 primary studies after intensive manual analysis and filtering, which we thoroughly assessed using various criteria to address six main research questions that covered the blockchain types, applications and platforms in the energy sector, the energy source types for which blockchain platforms are implemented, the emergent technologies that are combined to blockchain solutions, and the types of consensuses used in energy blockchains. Based on the collected survey data, we built a database to categorize the existing research works, identify research trends, and highlight knowledge gaps and potential areas for additional field study.
... The broad application of blockchain is mainly because blockchain technology has several inherent advantages over the existing technologies [19,20]. Some of the key features of blockchain include: (a) decentralization -central authorities are not required in blockchain architecture, instead of equal peers in terms of authority, and rights are key constituents [21,22]. (b) Consensus-driven -in blockchain technology, consensus algorithms play a key role in verifying if each block of transactions is valid or invalid. ...
... As a result, the consensus algorithm creates an undesirable semi-centralized system. The PoS also creates a problem called nothing at stake and it is also vulnerable to 51% attack [19,21,36]. ...
... In the proposed approach, we use these parameters to describe the performance of our consensus algorithm. The performance of known permissionless blockchains such as PoW and PoS, PoA, and PoC has been studied in [19,21,23,57]. We used some of the parameters and their values for comparison with PoF as presented in Table 3. ...
A public blockchain network ensures security, performance, and integrity through its consensus algorithm. However, most public blockchain consensus algorithms require intensive resources such as; energy, CPU, stake, and memory. Further, the incentive mechanisms of most permissionless consensus algorithms are biased towards the miners having the most resources. This paper proposes a novel, resource-efficient, and fair rewarding consensus algorithm called Proof of Fit (PoF). The PoF consensus algorithm replaces the resource-intensive computation in Proof of Work (PoW) with massage-based resource-efficient computation called fitting-competition. We estimated the average computation time by developing a peer-to-peer messaging and computing network. Then we customized a public blockchain simulation framework to assess the performance parameters of the consensus algorithm. We did several experiments and compared the simulation results of PoF with PoW, Proof of Activity (PoA), Proof of Stake (PoS), and Poof of Capacity (PoC). The simulation result shows that the PoF consensus algorithm improves throughput by 1257%, 69%, 35%, and 18%, respectively; besides, it improves security, resource efficiency, and incentive distribution.
... The main reason is Proof-of-Work (PoW) [39], which requires computers to compete with one another to solve complex puzzles in order to add blocks and transactions to the blockchain. It has been estimated that Ethereum will switch to Proof-of-Stake [80] around August of 2022, allowing the network to scale better and transaction speeds to increase; reducing their costs at the same time will be known as ETH2/Serenity, and is part of Ethereum 2.0 [81]. ...
... A unique feature of Solana is that it combines Proof-of-history (PoH) [85] with Proofof-Stake (PoS) [37], which gives a hybrid consensus algorithm [80]. During PoH, the Blockchain is extremely fast, the transactions are ordered correctly, and the leader (Validator) finds the transactions correctly. ...
Non-fungible Tokens (NFTs) are ownership records stored on a blockchain, and they are typically digital items such as photos and videos. In many ways, an NFT is like a conventional proof-of-purchase document, such as a paper invoice or an electronic receipt. NFTs are attractive among other things because of verifiability; each sale is recorded as a blockchain transaction, allowing ownership to be tracked. Also, NFTs can be used to transfer digital assets between two mutually distrusting parties, since both the crypto payment and the asset transfer take place in one transaction. With NFTs, all marketplaces can freely trade with the help of decentralized applications (DApps). It is currently estimated that there are over 245 NFT marketplaces (NFTM) listed with over 1000 blockchains as of August 2022 with 68 million blockchain wallet users. With the expansion of markets, they must face challenges and issues. The objective of this review is to study the market dynamics of NFT ecosystems. It also focuses on technical components that enable NFTs and their marketplace. The review provides a deeper understanding of its components, how they are related, and why they are important. The paper analyses the challenges faced by NFTs and marketplaces in terms of security, transparency, scalability, and the consequences leading to these issues and how they will address them, as well as future opportunities.
... Proof of Stake (PoS) [71] PoS consensus uses validators to agree on the final state of the ledger where validators are the same as miners in the PoW. However, instead of competing, validators are selected on a lottery-based system, depending on the stake they provide in the network, which is the monetary value and signed by the digital signature of the validators. ...
The basic properties of blockchain, such as decentralization, security, and immutability, show promising potential for IoT applications. The main feature—decentralization of blockchain technology—depends on the consensus. However, consensus algorithms are mostly designed to work in extensive computational and communication environments for network security and immutability, which is not desirable for resource-restricted IoT applications. Many solutions are proposed to address this issue with modified consensus algorithms based on the legacy consensus, such as the PoW, PoS, and BFT, and new non-linear data structures, such as DAG. A systematic classification and analysis of various techniques in the field will be beneficial for both researchers and industrial practitioners. Most existing relevant surveys provide classifications intuitively based on the domain knowledge, which are infeasible to reveal the intrinsic and complicated relationships among the relevant basic concepts and techniques. In this paper, a powerful tool of systematic knowledge classification and explanation is introduced to structure the survey on blockchain consensus algorithms for resource-constrained IoT systems. More specifically, an ontology was developed for a consensus algorithm apropos of IoT adaptability. The developed ontology is subdivided into two parts—CONB and CONIoT—representing the classification of generic consensus algorithms and the ones that are particularly proposed for IoT, respectively. Guided by this ontology, an in depth discussion and analysis are provided on the major consensus algorithms and their IoT compliance based on design and implementation targets. Open research challenges and future research directions are provided.
... Up to now, there have been more than 50 different consensus mechanisms in the study of blockchain technologies. We refer readers to recent survey papers by, for example, Cachin and Vukolić [10], Bano et al. [4], Natoli et al. [49], Chaudhry and Yousaf [14], Nguyen and Kim [51], Ongaro and Ousterhout [56], Salimitari and Chatterjee [64], Wang et al. [74], Pahlajani et al. [58], Nguyen et al. [52], Carrara et al. [11], Wan et al. [73], Xiao et al. [75], Ferdous et al. [20], Nijsse and Litchfield [53], Leonardos et al. [35], Yao et al. [77], Lashkari and Musilek [34], Fu et al. [21], Khamar and Patel [30], Oyinloye et al. [57], Bains [3] and Xiong et al. [76]. ...
In a practical Byzantine fault tolerance (PBFT) blockchain network, the voting nodes may always leave the network while some new nodes can also enter the network, thus the number of voting nodes is constantly changing. Such a new PBFT with dynamic nodes is called a dynamic PBFT. Clearly, the dynamic PBFT can more strongly support the decentralization and distributed structure of blockchain. However, analyzing dynamic PBFT blockchain systems will become more interesting and challenging. In this paper, we propose a large-scale Markov modeling technique to analyze the dynamic PBFT voting processes and its dynamic PBFT blockchain system. To this end, we set up a large-scale Markov process (and further a multi-dimensional Quasi-Birth-and-Death (QBD) process) and provide performance analysis for both the dynamic PBFT voting processes and the dynamic PBFT blockchain system. In particular, we obtain an effective computational method for the throughput of the complicated dynamic PBFT blockchain system. Finally, we use numerical examples to check the validity of our theoretical results and indicate how some key system parameters influence the performance measures of the dynamic PBFT voting processes and of the dynamic PBFT blockchain system. Therefore, by using the theory of multi-dimensional QBD processes and the RG-factorization technique, we hope that the methodology and results developed in this paper shed light on the study of dynamic PBFT blockchain systems such that a series of promising research can be developed potentially.
... • Proof of Stake (PoS) PoS was first proposed by a BitcoinTalk forum in 2011. It follows the concept that a node is chosen randomly to validate the next block based on the number of coins they have [101]. The validators are chosen based on coins they fixed deposit in the network. ...
In the last few decades, there has been an increase in food safety and traceability issues. To prevent accidents and misconduct, it became essential to establish Food Safety Traceability System (FSTS) to trace the food from producer to consumer. The traceability systems can help track food in supply chains from farms to retail. Numerous technologies such as Radio Frequency Identification (RFID), sensor networks, and data mining have been integrated into traditional food supply chain systems to remove unsafe food products from the chain. But, these are not adequate for the current supply chain market. The emerging technology of blockchain can overcome safety and tracking issues. This can be possible with the help of blockchain features like transparent, decentralized, distributed, and immutable. Most of the previous works missed the discussion of the systematic process and technology involved in implementing the FSTS using blockchain. In this paper, we have discussed an organized state of research of the existing FSTS using blockchain. This survey paper aims to outline a detailed analysis of blockchain technology, FSTS using blockchain, consensus algorithms, security attacks, and solutions. Several survey papers and solutions based on blockchain are included in this research paper. Also, this work discusses some of the open research issues related to FSTS.
... With the power of a user defined as above, one can now observe that with an adversary party with over half of the network's total power, u∈U Π(u, t) can have a critical dishonest impact on the network, most potentially leading to double spending and other related attacks [9] The nothing-at-stake phenomenon is a well-known issue, majorly targeting PoS systems [17] [23]. Unlike in PoW, in PoS, it is not computationally costly for validators to add new blocks to the blockchain, a problem commonly referred to as the nothing-at-stake security issue. ...
We propose RPoA, a new consensus protocol that builds on top of some of the best features of the previous protocols, such as PoW, PoS, and PoA, and values active service provided by users on the network. While PoA tried to address some of the issues pertinent to PoS and PoW, it still fell short of solving the issues regarding high energy consumption, high resources needed, high mining latency, and the requirement for private blockchains. Our approach tries to address all the mentioned issues and falls in the service-based protocols category that gives mining credit to users as they serve on the network.
... 2) Proof of Stake (PoS): An energy-saving alternative to PoW is the PoS protocol. In PoS the nodes who are able to confirm transactions are chosen based on their stakes, or contributions to the blockchain network, rather than processing capacity [19]. A node's stake, particularly in the PoS consensus algorithm, is the number of blocks it holds or deposits, such as coins in cryptocurrencies. ...
Caching and distributing of network packets among devices has been accepted by the research community as a cost-effective method of transferring especially audio-video data among mobile users. Another newly established technology, blockchain, has been successfully applied to decentralized financial systems like Bitcoin. The research on caching and distributing methods has not focused on the security aspect so far. In this article, we present an effective scheme to provide security and integrity of network packets in caching and distribution systems by employing the blockchain technology. Unlike the existing blockchain applications, the proposed protocol requires a lightweight consensus algorithm. Our scheme also allows peers in the network to make correctly addressed inquiries as the packets’ locations are kept in the blocks which are available to any peer in the network. Considering that cryptographic primitives alone are not adequate to prevent malicious network packets among the peers, the proposed blockchain application presents an invaluable tool to prevent malicious packets from leaking into the system and to address which peers own the desired packets. We demonstrate the efficiency of the proposed method by implementing it for Android OS devices and conduct real-time testing on different settings.
... Reputation mechanisms in blockchain applications can provide many desirable properties as system components. In general, reputation mechanisms can be employed at different layers of blockchain systems: protocols layer e.g Delegated Proofof-Stake [1], middleware e.g. MEV-Boost [2], and most prominently at the application layer of Decentralized Autonomous Organizations (DAOs) [3]- [6]. ...
... Finally, token-based incentives in blockchain protocols disproportionately rewarding large holders tend to encourage re-centralization in decentralized networks [14]. Allocation of rewards for participants 1 of decentralized protocols based on merits or contributions reflected in their non-transferable 'reputation' offers an appealing approach to overcome these limitations. Merit-based rewards can provide alignment of incentives for participants in complex communities and allow for a sustainable distribution of resources [15]. ...
... Automation of the settlement process based on a smart contract algorithm will minimise activities and hardware and personnel involvement on the part of participants. Use of an alternative consensus algorithm to Proof-of-Work (PoW), e.g., Proof-of-Stake (PoS) [107], Proof-of-Storage, Proof of Elapsed Time (PoET) [108], Proof of Authority (PoA) [109], Proof of Activity (PoAc) [110], Proof of Burn (PoB), Proof of Inclusion (PoI), Practical Byzantine Fault Tolerance (PBFT) or others [38]. Settlement formulas that promote the current consumption of energy supplied to the grid (reducing storage losses). ...
This article reviews the issue of the use of cryptocurrencies (crypto-assets, in general) for an electricity settlement system. The development of digital techniques, including blockchain-based mechanisms, has meant that an increased interest in blockchain-based solutions is to be expected. Blockchain and similar approaches are characterised by decentralisation, so they are concurrent with the trends of the transforming power sector. Decentralised energy generation based on a high proportion of prosumer installations requires the implementation of a new settlement system for grid activities related to electricity use. The first projects of such systems based on a dedicated cryp-tocurrency have emerged. Based on these, the general concept of such a system with its own cryp-tocurrency called CCE is presented, including variants implementing net-metering and net-billing. Furthermore, issues requiring interdisciplinary research work and discussion before implementing such systems were identified. A settlement system in which a cryptocurrency is linked to a unit of energy used could be a first step towards introducing a new universal means of value exchange, linked to energy as the primary measure of the value of goods.
