Blockchain's consensus algorithm: A review
Shambhu Bhardwaj · ACADEMICIA An International Multidisciplinary Research Journal · 2021
AbstractA consensus algorithm is a computer science technique that allows dispersed processes or systems to agree on a single data value. Consensus algorithms are intended to ensure dependability in a network containing many faulty nodes. Bitcoin's foundational technology is blockchain. With bitcoin's rising value and consistent functioning, blockchain is gaining traction in a variety of fields. Decentralization, stability, security, and non-modifiability are all features of blockchain. It has the capability of altering network architecture. The consensus algorithm is critical for preserving blockchain's security and efficiency. The use of the correct algorithm may significantly improve the performance of a blockchain application. We examined the fundamental concepts and features of consensus algorithms in this paper, as well as the performance and application scenarios of several consensus mechanisms. We also provided technical advice on choosing an appropriate consensus algorithm, as well as a summary of blockchain technology's limits andfuture developments.