2020
DOI: 10.33166/aetic.2020.01.002
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A Survey on PoW-based Consensus

Abstract: We provide a historical overview of proof-of-work techniques and the fields in which it plunges its roots. We are interested in PoW-techniques applied to blockchain technology and therefore we survey the state-of-the-art protocols employing these methods for consensus algorithms, emphasizing the differences between the efficient hashcash systems and the promising bread pudding protocols. Afterwards, the consensus mechanisms are discussed and some interesting known attacks to these algorithms are collected and … Show more

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Cited by 36 publications
(21 citation statements)
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“…Users send their proposals of new data to be included in the blockchain to the miners, a special subset of users that actively maintain the blockchain by reaching a consensus (e.g. [22]) on the transaction to append and by publishing the updated state.…”
Section: 21mentioning
confidence: 99%
“…Users send their proposals of new data to be included in the blockchain to the miners, a special subset of users that actively maintain the blockchain by reaching a consensus (e.g. [22]) on the transaction to append and by publishing the updated state.…”
Section: 21mentioning
confidence: 99%
“…It also has strong support to increasing numbers of nodes in the network. This type of consensus algorithm is highly effective in an environment where there is a lack of trust among the nodes (e.g., public networks of home networks) that involves multiple data collectors and communicators, where each user sends each other digital tokens [51] (ii) Proof-of-stake (PoS): this algorithm works on an incentive mechanism, where every block is validated through a betting system [53]. If a consensus is made between the majority of the blocks about adding another block, the stakes of all the blocks are raised, which is a strong support to increasing numbers of nodes in the network.…”
Section: Blockchain Standardizationsmentioning
confidence: 99%
“…Some of the most popular underlying puzzles are based on prime modulo operations [4], [8]- [10], partial hash inversions [5]- [7], [11], [12], and memory intensive computations [13]- [17]. (See [3] for a recent review of puzzle types; for a review of PoW schemes applied to blockchain technology, see [18]. )…”
Section: Introductionmentioning
confidence: 99%