On Federated and Proof Of Validation Based Consensus Algorithms In Blockchain

International Conference on Materials, Alloys and Experimental Mechanics 2017

材料科学;金属学;机械制造

Ambili, K.N.^1 ; Sindhu, M.^1 ; Sethumadhavan, M.^1

TIFAC CORE in Cyber Security, Amrita School of Engineering, Coimbatore Amrita Vishwa Vidyapeetham, Amrita University, India^1

关键词: Client-server architectures;    Consensus algorithms;    Consensus methods;    Double spending;    Information technology systems;    Real-world activities;    Ripple;    Tendermint;   

Others  :  https://iopscience.iop.org/article/10.1088/1757-899X/225/1/012198/pdf
DOI  :  10.1088/1757-899X/225/1/012198

学科分类：材料科学（综合）

来源: IOP

【 摘 要 】

Almost all real world activities have been digitized and there are various client server architecture based systems in place to handle them. These are all based on trust on third parties. There is an active attempt to successfully implement blockchain based systems which ensures that the IT systems are immutable, double spending is avoided and cryptographic strength is provided to them. A successful implementation of blockchain as backbone of existing information technology systems is bound to eliminate various types of fraud and ensure quicker delivery of the item on trade. To adapt IT systems to blockchain architecture, an efficient consensus algorithm need to be designed. Blockchain based on proof of work first came up as the backbone of cryptocurrency. After this, several other methods with variety of interesting features have come up. In this paper, we conduct a survey on existing attempts to achieve consensus in block chain. A federated consensus method and a proof of validation method are being compared.