STUDY OF CONSENSUS ALGORITHMS IN BLOCKCHAIN NETWORKS IN THE DESIGN OF INFORMATION SYSTEMS
DOI:
https://doi.org/10.34185/1991-7848.itmm.2024.01.092Keywords:
blockchain, decentralised systems, information system, consensus mechanism, digital ledgerAbstract
This paper provides an overview of the major consensus mechanisms in blockchain technology. The main consensus algorithms are discussed, such as Proof of Work, Proof of Stake, Proof of Authority and other, and each has its own unique features, advantages and limitations. The authors analyse these mechanisms based on criteria such as energy efficiency, security, scalability and decentralisation. In addition, there recommendations provided for selecting the optimal consensus mechanism depending on the specific needs and goals of the project. This article serves as an important resource for researchers, developers, and practitioners interested in blockchain technology and its various aspects.
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