A Systematic Review of Consensus Mechanisms in Blockchain

Sisi Zhou, Kuanching Li (), Lijun Xiao, Jiahong Cai, Wei Liang and Arcangelo Castiglione
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Sisi Zhou: School of Computer Science and Engineering, Hunan University of Science and Technology, Xiangtan 411201, China
Kuanching Li: School of Computer Science and Engineering, Hunan University of Science and Technology, Xiangtan 411201, China
Lijun Xiao: School of Computer Science and Engineering, Hunan University of Science and Technology, Xiangtan 411201, China
Jiahong Cai: School of Computer Science and Engineering, Hunan University of Science and Technology, Xiangtan 411201, China
Wei Liang: School of Computer Science and Engineering, Hunan University of Science and Technology, Xiangtan 411201, China
Arcangelo Castiglione: Department of Computer Science, Università degli Studi di Salerno, 84084 Fisciano, Italy

Mathematics, 2023, vol. 11, issue 10, 1-27

Abstract: Since the birth of Bitcoin, blockchain has shifted from a critical cryptocurrency technology to an enabling technology. Due to its immutability and trustworthiness, blockchain has revolutionized many fields requiring credibility and high-quality data for decision making. Particularly in business intelligence and business process management, users can use blockchain to build their blockchain-enabled collaboration and data-sharing ecosystem with their partners. In this paper, we present the development process of blockchain and consensus mechanisms, where important blockchain consensus mechanisms are introduced. The consensus mechanism is the kernel among various blockchain components to ensure security and performance. Again, we present a comparison of these consensus mechanisms from different perspectives. We take the blockchain-enabling business as an example and analyze the relationship between blockchain and business process characteristics and the ideas and principles for selecting consensus mechanisms. Finally, we describe the differences and connections among many consensus mechanisms while laying a foundation for selecting appropriate consensus mechanisms for different scenarios and fields of application.

Keywords: blockchain; BFT; business intelligence; distributed systems; hybrid consensus mechanisms (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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