TrilemmaGuard: Safeguarding against the Challenges Posed by Blockchain Trilemma
Khandakar Md Shafin, Saha Reno · 2023
Current blockchain consensus models provide targeted solutions but often struggle to find a balance. While certain methods prioritize decentralization, they may compromise security or operational efficiency, and vice versa. This research employs state-of-the-art methodologies to create a novel consensus model that addresses the intricate aspects of the blockchain triad. By utilizing a verifiable random function (VRF) and dynamic reassessment of stake, the impartiality of slot leader selection is ensured. Through skillful implementation of batch agreement systems, consensus on transaction groups is rapidly achieved. Mechanisms like the Honey Badger Byzantine Fault Tolerance (BFT) protocol, sharding and secondary-layer solutions also contribute to the elevation of scalability. Collectively, these advancements establish a strong consensus model that adeptly navigates the complexities of decentralization, security, and scalability within blockchain frameworks.