A Comparative Study of Blockchain Consensus Algorithms

Abstract

A blockchain is a decentralized distributed public database. It does not have a central authority to maintain this public database by running a cryptographic protocol with distributed nodes. Bitcoin is currently the hottest item in the blockchain, and the Bitcoin node can verify the transaction content and package it into the block. The blockchain guarantees the consistency of the books through the underlying consensus agreement. These consensus algorithms are different because the algorithm security assumptions are different from the actual requirements. This paper sorts and compares various blockchain consensus algorithms, sorts out the development based on blockchain consensus, and points out the advantages and disadvantages of various algorithms, and proposes the development direction of blockchain consensus algorithm. CCS Concepts •Anonymity and privacy issues and measures to enhance themConsensus protocols for blockchains.