An illustration of a blockchain network.

An illustration of a blockchain network.

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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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... 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: ...
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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. ...
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... 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. ...
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... 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. ...
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... 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]. ...
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... • 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. ...
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... 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. ...
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... 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. ...
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