A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS
Blockchain technology started as the backbone for cryptocurriencies and it has emerged as one of the most interesting technologies of the last decade. It is a new paradigm able to modify the way how industries transact. Today, the industries’ concern is about their ability to handle a high volume of...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2020-10-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/8/10/1782 |
| _version_ | 1797551015011024896 |
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| author | Cristian Lepore Michela Ceria Andrea Visconti Udai Pratap Rao Kaushal Arvindbhai Shah Luca Zanolini |
| author_facet | Cristian Lepore Michela Ceria Andrea Visconti Udai Pratap Rao Kaushal Arvindbhai Shah Luca Zanolini |
| author_sort | Cristian Lepore |
| collection | DOAJ |
| description | Blockchain technology started as the backbone for cryptocurriencies and it has emerged as one of the most interesting technologies of the last decade. It is a new paradigm able to modify the way how industries transact. Today, the industries’ concern is about their ability to handle a high volume of data transactions per second while preserving both decentralization and security. Both decentralization and security are guaranteed by the mathematical strength of cryptographic primitives. There are two main approaches to achieve consensus: the Proof-of-Work based blockchains—PoW—and the Proof-of-Stake—PoS. Both of them come with some pros and drawbacks, but both rely on cryptography. In this survey, we present a review of the main consensus procedures, including the new consensus proposed by Algorand: Pure Proof-of-Stake—Pure PoS. In this article, we provide a framework to compare the performances of PoW, PoS and the Pure PoS, based on throughput and scalability. |
| first_indexed | 2024-03-10T15:37:42Z |
| format | Article |
| id | doaj.art-9bc54019faee4a8f909d6ac058ff8b06 |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-03-10T15:37:42Z |
| publishDate | 2020-10-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-9bc54019faee4a8f909d6ac058ff8b062023-11-20T17:05:38ZengMDPI AGMathematics2227-73902020-10-01810178210.3390/math8101782A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoSCristian Lepore0Michela Ceria1Andrea Visconti2Udai Pratap Rao3Kaushal Arvindbhai Shah4Luca Zanolini5Computer Science Department at University of Milan, 20133 Milan, ItalyComputer Science Department at University of Milan, 20133 Milan, ItalyComputer Science Department at University of Milan, 20133 Milan, ItalyComputer Engineering Department, S.V. National Institute of Technology, Surat, Gujarat 395007, IndiaSchool of Computer Science and Engineering, Vellore Institute of Technology, Amaravati 522237, IndiaInstitute of Computer Science, University of Bern, 103012 Bern, SwitzerlandBlockchain technology started as the backbone for cryptocurriencies and it has emerged as one of the most interesting technologies of the last decade. It is a new paradigm able to modify the way how industries transact. Today, the industries’ concern is about their ability to handle a high volume of data transactions per second while preserving both decentralization and security. Both decentralization and security are guaranteed by the mathematical strength of cryptographic primitives. There are two main approaches to achieve consensus: the Proof-of-Work based blockchains—PoW—and the Proof-of-Stake—PoS. Both of them come with some pros and drawbacks, but both rely on cryptography. In this survey, we present a review of the main consensus procedures, including the new consensus proposed by Algorand: Pure Proof-of-Stake—Pure PoS. In this article, we provide a framework to compare the performances of PoW, PoS and the Pure PoS, based on throughput and scalability.https://www.mdpi.com/2227-7390/8/10/1782blockchainconsensusProof-of-StakeProof-of-WorkPure Proof-of-Stakescalability |
| spellingShingle | Cristian Lepore Michela Ceria Andrea Visconti Udai Pratap Rao Kaushal Arvindbhai Shah Luca Zanolini A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS Mathematics blockchain consensus Proof-of-Stake Proof-of-Work Pure Proof-of-Stake scalability |
| title | A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS |
| title_full | A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS |
| title_fullStr | A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS |
| title_full_unstemmed | A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS |
| title_short | A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS |
| title_sort | survey on blockchain consensus with a performance comparison of pow pos and pure pos |
| topic | blockchain consensus Proof-of-Stake Proof-of-Work Pure Proof-of-Stake scalability |
| url | https://www.mdpi.com/2227-7390/8/10/1782 |
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