An Improved Delegated Proof of Stake Consensus Algorithm

Dinh

et al. 2022

Int. J. Ind. Optim.

Recently, blockchain technology has been applied in many domains in our life. Blockchain networks typically utilize a consensus protocol to achieve consistency among network nodes in a decentralized environment. Delegated Proof of Stake (DPoS) is a popular mechanism adopted in many networks such as BitShares, EOS, and Cardano because of its speed and scalability advantages. However, votes that come from nodes on a DPoS network tend to support a set of specific nodes that have a greater chance of becoming block producers after voting rounds. Therefore, only a small group of nodes can be selected to become block producers. To address this issue, we propose a new protocol called Evolutionary Computation-based Proof of Criteria (ECPoC), which uses ten criteria to evaluate and select a new block procedure in each round. Next, a set of optimal weights used for maximizing the network’s decentralization level is identified through the use of evolutionary computation algorithms. The experimental results show that our consensus significantly enhances the degree of decentralization in the selection process of witness nodes compared to DPoS. As a result, ECPoC facilitates fairness between nodes and creates momentum for blockchain network development

Section: Distributionmentioning

confidence: 87%

Ecpoc: an evolutionary computation-based proof of criteria consensus protocol

Dinh

et al. 2022

Int. J. Ind. Optim.

“…DPoS networks typically have higher transaction throughput and lower latency compared to PoW and PoS, as they rely on a smaller number of trusted validators [31]. DPoS is designed to be more scalable than PoW and PoS, as it can handle increased nodes and transactions more efficiently due to its delegated validation process [33]. DPoS is more energy-efficient than PoW, as it does not require resource-intensive mining [34].…”

Section: Findings and Discussionmentioning

confidence: 99%

An Exploration of Blockchain Protocols for Trusted Vote Aggregation: A Consensus Algorithm Approach

Mwansa,

Kabaso

2023

iCARTi

The application of blockchain technology in electronic voting (e-voting) systems represents a promising solution to the perennial challenges of trust, transparency, and security in electoral processes. This study aims to identify a suitable blockchain protocol that supports trustworthy vote aggregation and has a suitable consensus algorithm to validate vote counting. Our research methodology includes an extensive literature review and a comparative analysis of different blockchain protocols. Considering this, we examine various consensus algorithms such as Proof of Work, Proof of Stake, and Practical Byzantine Fault Tolerance among others, each of which presents unique strengths and challenges. In addition, this study enriches the existing body of knowledge by proposing a novel algorithm that works at the edge of the network to validate and aggregate votes on the blockchain. This newly proposed algorithm is designed to provide maximum security, reliability, and accuracy while minimizing computational resources and network overhead. Our comprehensive research and innovative proposal serve to strengthen the potential of blockchain protocols and their consensus algorithms in the field of electronic voting systems. The results of this research could significantly influence the development and implementation of secure, transparent, and reliable e-voting systems based on blockchain technology, paving the way for more democratic and accountable voting mechanisms.

IET Generation Trans & Dist

“…For example, a POW mechanism consumes considerable computing power, whereas in a proof‐of‐stake (POS) mechanism, the concentration of equity results in low fairness [23]. The delegated POS (DPOS) mechanism attempts to improve upon both POW and POS mechanisms, but it is highly centralized, lacks fairness, and has high costs [24], making it unsuitable for practical application scenarios that focus on decentralization and fairness. Byzantine fault‐tolerant (BFT) algorithms such as PBFT have the advantages of second‐level consensus, eventual consistency, and no power consumption and can resist malicious tampering with information by nodes, but the complexity of these algorithms depends on the number of nodes [25].…”

Section: Fisco Bcos Blockchain Technologymentioning

confidence: 99%

Multimicrogrid collaborative economic scheduling method based on the FISCO BCOS blockchain

Wang

Yang

et al. 2023

With the advancement of carbon peaking and carbon neutrality goals, microgrid clusters have attracted widespread attention due to their high stability and energy efficiency. This article proposes a scheduling architecture for microgrid clusters that integrates blockchain smart contracts, consensus mechanisms, and encryption technologies to address the issues of data trust, privacy protection, and security reliability in microgrid clusters. An economic adjustment model for microgrid clusters is constructed that combines economic and environmental objectives. Finally, based on the RPBFT (Rotating Proof of Believability) algorithm and group architecture of FISCO BCOS blockchain technology, an economic scheduling method for microgrid clusters is designed. The authors built a microgrid cluster model on the FISCO BCOS blockchain platform and conducted experiments on the effectiveness, economy, fault tolerance, and scalability of economic scheduling methods. The experimental results showed that the economic scheduling method proposed in this paper can effectively reduce the risk of nodes tampering with data in a microgrid cluster system, ensure the privacy of submicrogrids, and support the deployment of large‐scale microgrid clusters, the realization of multiparty collaborative autonomy and the stable, low‐carbon, economic operation of microgrid clusters.