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Ivy Botchway Felix Larbi Aryeh Boniface Kayode Alese
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Advancements in Blockchain Consensus Mechanisms: Innovations, Implications, and Future Prospects

by Jing Gao, Apoorv Saxena, Bang Han Chiu
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International Journal of Computer Applications
Foundation of Computer Science (FCS), NY, USA
Volume 186 - Number 55
Year of Publication: 2024
Authors: Jing Gao, Apoorv Saxena, Bang Han Chiu
10.5120/ijca2024924262

Jing Gao, Apoorv Saxena, Bang Han Chiu . Advancements in Blockchain Consensus Mechanisms: Innovations, Implications, and Future Prospects. International Journal of Computer Applications. 186, 55 ( Dec 2024), 1-13. DOI=10.5120/ijca2024924262

@article{ 10.5120/ijca2024924262,
author = { Jing Gao, Apoorv Saxena, Bang Han Chiu },
title = { Advancements in Blockchain Consensus Mechanisms: Innovations, Implications, and Future Prospects },
journal = { International Journal of Computer Applications },
issue_date = { Dec 2024 },
volume = { 186 },
number = { 55 },
month = { Dec },
year = { 2024 },
issn = { 0975-8887 },
pages = { 1-13 },
numpages = {9},
url = { https://ijcaonline.org/archives/volume186/number55/advancements-in-blockchain-consensus-mechanisms-innovations-implications-and-future-prospects/ },
doi = { 10.5120/ijca2024924262 },
publisher = {Foundation of Computer Science (FCS), NY, USA},
address = {New York, USA}
}
%0 Journal Article
%1 2024-12-27T02:45:45.119216+05:30
%A Jing Gao
%A Apoorv Saxena
%A Bang Han Chiu
%T Advancements in Blockchain Consensus Mechanisms: Innovations, Implications, and Future Prospects
%J International Journal of Computer Applications
%@ 0975-8887
%V 186
%N 55
%P 1-13
%D 2024
%I Foundation of Computer Science (FCS), NY, USA
Abstract

This study rigorously examines a diverse array of consensus mechanisms employed in blockchain technologies, providing insights into their historical evolution and potential future developments within the domain of distributed ledger technologies. The investigation initiates with an exhaustive analysis of foundational mechanisms, such as Proof of Work (PoW) and Proof of Stake (PoS), gradually expanding to encompass a broader spectrum that includes emerging methodologies like Proof of Research (PoR), Proof of Devices, and innovative Dual Layered consensus models. Further examination is devoted to various evolving paradigms, including, but not limited to, Proof of Space, Proof of Authority, and Proof of Burn. These are critically assessed for their prospective impacts and transformative potentials within cryptographic currency ecosystems. A specific emphasis is placed on a thorough exploration of Dual Layered models, highlighting their pivotal role and significant contributions to enhancing system scalability and operational efficiencies within blockchain networks.

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Index Terms

Computer Science
Information Sciences
Blockchain
Cryptographic Mechanisms

Keywords

Proof ofWork Proof of Stake Proof of Research Decentralization Security Scalability

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