scholarly journals A Comparative Analysis of Blockchain Consensus Algorithms from Shariah Perspective

2020 ◽  
Vol 6 (1) ◽  
pp. 1-22
Author(s):  
Tasneem Darwish ◽  
Kamalrulnizam Abu Bakar ◽  
Gen Matsuda ◽  
Ahmed Aliyu ◽  
Abdul Hanan Abdullah ◽  
...  
Keyword(s):  
Comparative Analysis ◽  
Distributed Applications ◽  
Work Flow ◽  
Consensus Algorithm ◽  
Consensus Algorithms ◽  
Blockchain Technology ◽  
And Performance

Blockchain provides a distributed digital ledger platform for not only cryptocurrencies but also many other distributed applications. Blockchain platforms work flow and performance are controlled by the used consensus algorithms. Although many studies evaluated cryptocurrency from the Shariah perspective, they focused only on the cryptocurrency concept and did not consider the underlying blockchain technology. However, designing a Shariah compliant application on top of a non Shariah compliant platform does not fulfil the requirements of Shariah. Therefore, it is necessary to use a Shariah compliant blockchain platform in order to produce Shariah compliant blockchain applications. To support the production of Shariah compliant blockchain applications, this study provides a comparative analysis of the most used consensus algorithms in blockchain platforms. In particular, the considered consensus algorithms are evaluated from a Shariah perspective. In conclusion, based on the conducted evaluation some of the widely used blockchain platforms (e.g. Bitcoin and Ethereum) are found to be not compliant with the Shariah rules due to using a consensus algorithm that is not Shariah compliant.

scholarly journals A Novel Blockchain Framework for Industrial IoT Edge Computing

Sensors ◽  
2020 ◽  
Vol 20 (7) ◽  
pp. 2061 ◽  
Author(s):  
Xuesong Xu ◽  
Zhi Zeng ◽  
Shengjie Yang ◽  
Hongyan Shao
Keyword(s):  
Data Storage ◽  
Resource Constraints ◽  
Rapid Development ◽  
Edge Computing ◽  
Consensus Algorithm ◽  
Resource Constrained ◽  
Blockchain Technology ◽  
Industrial Internet ◽  
Industrial Iot ◽  
And Performance

With the rapid development of industrial internet of thing (IIoT), the distributed topology of IIoT and resource constraints of edge computing conduct new challenges to traditional data storage, transmission, and security protection. A distributed trust and allocated ledger of blockchain technology are suitable for the distributed IIoT, which also becomes an effective method for edge computing applications. This paper proposes a resource constrained Layered Lightweight Blockchain Framework (LLBF) and implementation mechanism. The framework consists of a resource constrained layer (RCL) and a resource extended layer (REL) blockchain used in IIoT. We redesign the block structure and size to suit to IIoT edge computing devices. A lightweight consensus algorithm and a dynamic trust right algorithm is developed to improve the throughput of blockchain and reduce the number of transactions validated in new blocks respectively. Through a high throughput management to guarantee the transaction load balance of blockchain. Finally, we conducted kinds of blockchain simulation and performance experiments, the outcome indicated that the method have a good performance in IIoT edge application.

scholarly journals Optimizing the Resource Consumption of Blockchain Technology in Business Systems

2020 ◽  
Vol 11 (3) ◽  
pp. 78-92
Author(s):  
Vedran Juričić ◽  
Matea Radošević ◽  
Ena Fuzul
Keyword(s):  
Business Processes ◽  
Consensus Algorithm ◽  
Business Systems ◽  
Suitable Alternative ◽  
Consensus Algorithms ◽  
Blockchain Technology ◽  
Current State ◽  
Complete Problems ◽  
Digital Asset ◽  
Np Complete

AbstractBackgroundBlockchain technology has gained a great public interest due to the appearance of cryptocurrencies, a digital asset used for exchanging funds. Although blockchain calculations offer the benefits of security and reduced costs, blockchain is still strongly criticised for its lack of usefulness and resource-heavy consumption.ObjectivesThe aim of this research is to provide different insights into blockchain technology and to propose NP-complete problems as a suitable alternative to the current consensus algorithm.Methods/approachThis research discusses the current state of proposed alternatives, projects such as distributed volunteering for scientific purposes and different consensus algorithms within cryptocurrencies but focusing on incorporating NP-complete problems as a secondary, more useful option.ResultsUsing the properties of NP-complete problems, it is possible to solve various problems in different areas, such as science, biology, medicine and finance, but also to improve business processes, optimize markets, payments and supply chains while decreasing environmental costs.ConclusionsThis paper shows that the alternative mechanisms are being developed and used to substitute an existing Blockchain algorithm with a more efficient one. It also suggests further investigation in this area because the alternatives greatly improve blockchain’s usability and efficiency.

A Brief Analysis of Blockchain Algorithms and Its Challenges

2019 ◽  
pp. 69-85
Author(s):  
Rajalakshmi Krishnamurthi ◽  
Tuhina Shree
Keyword(s):  
Internet Of Things ◽  
Financial Services ◽  
Distributed Database ◽  
Consensus Algorithm ◽  
Central Authority ◽  
Consensus Protocol ◽  
Consensus Algorithms ◽  
The Core ◽  
Blockchain Technology ◽  
Comparison Algorithms

Blockchain is the world's most trusted service. It serves as a ledger that allows transaction to take place in a decentralized manner. There are so many applications based on blockchain technology, including those covering numerous fields like financial services, non-financial services, internet of things (IoT), and so on. Blockchain combines a distributed database and decentralized ledger without the need of verification by central authority. This chapter surveys the different consensus algorithms, blockchain challenges, and their scope. There are still many challenges of this technology, such as scalability and security problems, waiting to be overcome. The consensus algorithms of blockchain are proof of work (POW), proof of stake (POS), ripple protocol consensus algorithm (RPCA), delegated proof of stake (dPOS), stellar consensus protocol (SCP), and proof of importance (POI). This chapter discusses the core concept of blockchain and some mining techniques, consensus problems, and consensus algorithms and comparison algorithms on the basis of performance.

scholarly journals Research and Applied Perspective to Blockchain Technology: A Comprehensive Survey

2021 ◽  
Vol 11 (14) ◽  
pp. 6252
Author(s):  
Sumaira Johar ◽  
Naveed Ahmad ◽  
Warda Asher ◽  
Haitham Cruickshank ◽  
Amad Durrani
Keyword(s):  
Consensus Algorithm ◽  
Consensus Methods ◽  
Central Authority ◽  
Research Gaps ◽  
Consensus Algorithms ◽  
Development Platform ◽  
Initial Application ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Comprehensive Survey

Blockchain being a leading technology in the 21st century is revolutionizing each sector of life. Services are being provided and upgraded using its salient features and fruitful characteristics. Businesses are being enhanced by using this technology. Countries are shifting towards digital currencies i.e., an initial application of blockchain application. It omits the need of central authority by its distributed ledger functionality. This distributed ledger is achieved by using a consensus mechanism in blockchain. A consensus algorithm plays a core role in the implementation of blockchain. Any application implementing blockchain uses consensus algorithms to achieve its desired task. In this paper, we focus on provisioning of a comparative analysis of blockchain’s consensus algorithms with respect to the type of application. Furthermore, we discuss the development platforms as well as technologies of blockchain. The aim of the paper is to provide knowledge from basic to extensive from blockchain architecture to consensus methods, from applications to development platform, from challenges and issues to blockchain research gaps in various areas.

scholarly journals Hybrid Consensus Algorithm Based on Modified Proof-of-Probability and DPoS

2020 ◽  
Vol 12 (8) ◽  
pp. 122
Author(s):  
Baocheng Wang ◽  
Zetao Li ◽  
Haibin Li
Keyword(s):  
Data Consistency ◽  
Consensus Algorithm ◽  
Sorting Algorithm ◽  
System Efficiency ◽  
Malicious Nodes ◽  
Computing Power ◽  
Consensus Algorithms ◽  
Blockchain Technology ◽  
Modulo Operation ◽  
The Cost

As the core of blockchain technology, the consensus algorithm plays an important role in determining the security, data consistency, and efficiency of blockchain systems. The existing mainstream consensus algorithm is experiencing difficulties satisfying the needs of efficiency, security, and decentralization in real-world scenarios. This paper proposes a hybrid consensus algorithm based on modified Proof-of-Probability and Delegated Proof-of-Stake. In this method, the work of block generation and validation is, respectively, completed by the nodes using the modified Proof-of-Probability consensus algorithm and Delegated Proof-of-Stake consensus algorithm. When a transaction occurs, the system sends several target hash values to the whole network. Each modified Proof-of-Probability node has a different sorting algorithm, so they have different mining priorities. Every time a hash is decrypted by a modified Proof-of-Probability node, the modulo operation is done to the value of nonce, which is then compared with the expected value given by the supernode selected by the Delegated Proof-of-Stake nodes. If they are not the same, the Proof-of-Probability node enters the waiting time and the other Proof-of-Probability nodes continue to mine. By adopting two consensus algorithms, the malicious nodes must control more than 51% of the nodes that adopt the two consensus algorithms, at the same time, to effectively attack the system, that is, they must have more than 51% of the computing power and more than 51% of the tokens. This not only increases the cost of malicious attacks, but also reduces waste of computing power. In addition, the efficiency of the DPoS algorithm makes up for the deficiency of the PoP algorithm in system efficiency, and the mining behavior based on probability in the PoP algorithm also significantly weakens the ability of supernodes in the DPoS algorithm to conduct monopoly behavior or other malicious behaviors. In a word, the combination of the two algorithms makes the system perform better in terms of security, system efficiency, and decentralization.

scholarly journals Consensus Algorithms for Highly Efficient, Decentralized, and Secure Blockchains

2020 ◽  
pp. 47-60
Author(s):  
Diego I. ESTEVEZ
Keyword(s):  
Comparative Analysis ◽  
Consensus Algorithms ◽  
Technological Revolution ◽  
Highly Efficient ◽  
Blockchain Technology

This paper about blockchain technology introduces its theory, implementation, and applications while focusing on the types of consensus algorithms. The methodology is linguistic and consists of a comparative analysis of the most popular algorithms. This paper is part of a broader effort to make these concepts more accessible and help develop an environment where students can grow and be part of this technological revolution. Students with a background in algorithmic programming are uniquely suited to tackle highly impactful questions about the algorithms underpinning blockchains. After reading this paper, students should be able to build their own implementation of a blockchain and start doing research into this technology.

scholarly journals Efficient Byzantine Consensus Mechanism Based on Reputation in IoT Blockchain

2021 ◽  
Vol 2021 ◽  
pp. 1-14
Author(s):  
Xu Yuan ◽  
Fang Luo ◽  
Muhammad Zeeshan Haider ◽  
Zhikui Chen ◽  
Yucheng Li
Keyword(s):  
Internet Of Things ◽  
Large Scale ◽  
Consensus Algorithm ◽  
Consensus Algorithms ◽  
Heterogeneous Devices ◽  
Blockchain Technology ◽  
Critical Problems ◽  
Iot Devices ◽  
Reliability And Robustness ◽  
The Internet Of Things

Blockchain technology has advanced rapidly in recent years and is now widely used in a variety of fields. Blockchain appears to be one of the best solutions for managing massive heterogeneous devices while achieving advanced data security and data reputation, particularly in the field of large-scale IoT (Internet of Things) networks. Despite the numerous advantages, there are still challenges while deploying IoT applications on blockchain systems due to the limited storage, power, and computing capability of IoT devices, and some of these problems are caused by the consensus algorithm, which plays a significant role in blockchain systems by ensuring overall system reliability and robustness. Nonetheless, most existing consensus algorithms are prone to poor node reliability, low transaction per second (TPS) rates, and scalability issues. Aiming at some critical problems in the existing consensus algorithms, this paper proposes the Efficient Byzantine Reputation-based Consensus (EBRC) mechanism to resolve the issues raised above. In comparison to traditional algorithms, we reinvented ways to evaluate node reliability and robustness and manage active nodes. Our experiments show that the EBRC algorithm has lower consensus delay, higher throughput, improved security, and lower verification costs. It offers new reference ideas for solving the Internet of Things+blockchain+Internet court construction problem.

A Brief Analysis of Blockchain Algorithms and Its Challenges

2021 ◽  
pp. 23-39
Author(s):  
Rajalakshmi Krishnamurthi ◽  
Tuhina Shree
Keyword(s):  
Internet Of Things ◽  
Financial Services ◽  
Distributed Database ◽  
Consensus Algorithm ◽  
Central Authority ◽  
Consensus Protocol ◽  
Consensus Algorithms ◽  
The Core ◽  
Blockchain Technology ◽  
Comparison Algorithms

Blockchain is the world's most trusted service. It serves as a ledger that allows transaction to take place in a decentralized manner. There are so many applications based on blockchain technology, including those covering numerous fields like financial services, non-financial services, internet of things (IoT), and so on. Blockchain combines a distributed database and decentralized ledger without the need of verification by central authority. This chapter surveys the different consensus algorithms, blockchain challenges, and their scope. There are still many challenges of this technology, such as scalability and security problems, waiting to be overcome. The consensus algorithms of blockchain are proof of work (POW), proof of stake (POS), ripple protocol consensus algorithm (RPCA), delegated proof of stake (dPOS), stellar consensus protocol (SCP), and proof of importance (POI). This chapter discusses the core concept of blockchain and some mining techniques, consensus problems, and consensus algorithms and comparison algorithms on the basis of performance.

scholarly journals Research of consensus algorithms for blockchain platforms

2021 ◽  
pp. 1-16
Author(s):  
Ekaterina Alexandrovna Bakhvalova ◽  
Vladimir Anatolievich Sudakov
Keyword(s):  
Comparative Analysis ◽  
Detailed Analysis ◽  
Distributed Storage ◽  
Medical Data ◽  
Consensus Algorithm ◽  
Active Growth ◽  
Consensus Algorithms ◽  
Analysis Of Alternatives ◽  
The Creation ◽  
Criterion Analysis

In this paper, several consensus algorithms are investigated, a comparative analysis of these algorithms is made, the results of which are important in the context of the active growth of the cryptocurrency market. In addition, in the context of pandemics, the creation of blockchain technologies for the distributed storage of reliable medical data is relevant. The key properties of consensus algorithms are highlighted, and a detailed analysis of the algorithm of the promising Istanbul BFT algorithm is carried out. Using multi-criterion analysis of alternatives, it is shown how you can select the appropriate consensus algorithm for the needs of specific tasks.

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