A High Performance Consensus Algorithm for Consortium Blockchain

Blockchain is an emerging decentralized infrastructure and distributed computing paradigm. Blockchain has been widely used in many industries including finance, energy, and cloud computing. Consortium blockchain is known as the permissioned blockchain, in which each user needs to be authorized. Dist...

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Bibliographic Details
Published in2018 IEEE 4th International Conference on Computer and Communications (ICCC) pp. 2379 - 2386
Main Authors Jiang, Yanjun, Ding, Siye
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.12.2018
Subjects
Blockchain
blockchain consensus algorithm
byzantine fault tolerance
Consensus algorithm
consortium blockchain
Delays
Message passing
Proof of work
Throughput
Transfer functions
Online AccessGet full text
DOI10.1109/CompComm.2018.8781067

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Summary:Blockchain is an emerging decentralized infrastructure and distributed computing paradigm. Blockchain has been widely used in many industries including finance, energy, and cloud computing. Consortium blockchain is known as the permissioned blockchain, in which each user needs to be authorized. Distributed consensus is the core issue of consortium blockchain technology. In order to solve the disadvantages of using Proof of Work (POW) algorithm in consortium blockchain, such as computing resources waste, long block confirmation delay and low throughput, we designed and implemented a high performance blockchain consensus algorithm based on message passing technology called HPBC. HPBC algorithm can work well in asynchronous networks with Byzantine nodes. Results from theoretical analysis and performance evaluation show that HPBC algorithm provides safe and reliable distributed consensus services in consortium blockchain with low overhead. Finally, we summarized HPBC algorithm and briefly explore its further research directions.
DOI:10.1109/CompComm.2018.8781067