Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere
| Autor: | Kirill S. Lemeshko, Larissa V. Cherckesova, Denis A. Korochentsev, Olga Safaryan, Alexey N. Beskopylny |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Consensus algorithm
blockchain Mathematical optimization Proof of Work algorithm (PoW) TK7800-8360 Distributed database Computer Networks and Communications Computer science throughput capacity security consensus protocol Directed acyclic graph distributed ledger (registry) technology Power (physics) Task (project management) Directed Acyclic Graph (DAG) system Hardware and Architecture Control and Systems Engineering Micropayment Signal Processing Proof of Stake algorithm (PoS) Electronics Electrical and Electronic Engineering Data transmission Parametric statistics |
| Zdroj: | Electronics Volume 10 Issue 21 Electronics, Vol 10, Iss 2659, p 2659 (2021) |
| ISSN: | 2079-9292 |
| DOI: | 10.3390/electronics10212659 |
| Popis: | Blockchain is one of the leading data transfer technologies that eliminate the need for centralized management through consensus algorithms. This article describes the consensus algorithms, their benefits, and their applications within a micropayment system in the financial sector. Preliminary studies have shown that the performance of distributed databases largely depends on the chosen consensus algorithm. The main task of the study is to create a mathematical model to assess their performance. The most popular crypto projects and the consensus algorithms are analyzed to determine their performance. The obtained model was tested by calculating the parameters of the distributed register based on the directed acyclic graph algorithm and calculating the parameters of other algorithms used. The result is a mathematical model for evaluating the parametric characteristics of the work of consensus algorithms with the choice of the most priority one for implementation in the financial sector. The analysis focuses on the mathematical steps taken by each consensus algorithm. The data obtained using the developed mathematical model demonstrates that PoW, PoS, and DAG algorithms depend on various resources, such as computing power, the number of connected nodes, and the speed of receiving transactions. |
| Databáze: | OpenAIRE |
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