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Blockchain Based Secured Network for Optimizing Consensus Algorithms by Devenkumar Gol, Nikhil Gondaliya

Blockchain Based Secured Network for Optimizing Consensus Algorithms

by Devenkumar Gol , Nikhil Gondaliya
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Book cover type: Paperback
  • ISBN13: 9786209405143
  • Binding: Paperback
  • Subject: N/A
  • Publisher: LAP Lambert Academic Publishing
  • Publisher Imprint: LAP Lambert Academic Publishing
  • Publication Date:
  • Pages: 136
  • Original Price: GBP 59.94
  • Language: English
  • Edition: N/A
  • Item Weight: 191 grams
  • BISAC Subject(s): General

Blockchain is widely recognized for its enhanced data security and decentralizedframework, making it valuable across domains ranging from financial transactions toinformation security by providing consensus mechanism for block to be part of chain.However, these consensus algorithms such as Proof-of-Work and Proof-of-Stake possessseveral disadvantages concerning scalability, energy environment effect, and securityvulnerabilities. A new approach proposed for the optimized hybrid consensus mechanism to bridge these gaps incorporating elements from both PoW and PoS to enhance both performance and security, resulting in a more efficient and effective mining approach for other consensus in the blockchain network.The proposed solution dynamically adjusts mining difficulty according to network congestion while maintaining a stake-weighted process for selecting validators that induces fairness and efficiency even with faulty nodes. It focuses on the initial block proposal, where a validator's stake determines participation in the decentralized network, with verification processes optimized through thresholds to ensure security.

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