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Research Paper | Computer Engineering | India | Volume 9 Issue 2, February 2020 | Popularity: 6.7 / 10

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Consensus Mechanisms in Blockchain Technology: A Review

Sankaliya Shraddha

Abstract: A Blockchain is an Accessible to all, distributed ledger that can record transactions between two parties fast and scalable and in everyone check the validity of the information and permanent way. Blockchain, the foundation of Bitcoin, has received massive attentions recently. Cryptocurrencies such as Bitcoin enable users to submit payment transactions without going through centralized trusted Associations. Blockchain based applications are springing up, covering many fields including financial services, reputation system and Internet of Things (IoT), and so on. However, there are still many challenges of Blockchain technology such as scalability and security problems waiting to be overcome. This paper presents a comprehensive overview on Blockchain technology. We provide an overview of Blockchain architecture firstly and consensus algorithms used in different Blockchains. And also In this paper we modify tendermint consensus algorithm.

Keywords: Blockchain, Consensus, Tendermint

Edition: Volume 9 Issue 2, February 2020

Pages: 1513 - 1518

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