International Journal of Scientific Development and Research - IJSDR
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Paper Title: Relative Analysis of Blockchain, Bitcoin and Consensus Algorithm
Authors Name: Sameeka Saini , Ritu Payal , Arpit Mishra
Unique Id: IJSDR2008019
Published In: Volume 5 Issue 8, August-2020
Abstract: A decentralized ledger in which the transactions of cryptocurrency are recorded and securely exchanged is commonly known as Blockchain. Blockchain (commonly known chain of blocks) is the latest trend that follows decentralization concept. The collections of previously executed Bitcoin transactions are linearly arranged in a sequence, commonly known as Blockchain ledger. The addition of new completed block in Blockchain is done by the help of consensus protocols. Blocks on Blockchain consist of some information and timestamp value and they are interconnected by a link in such a way that every block points to its previous block. Blockchain is nearly impossible to tamper because of Hashing function used in it. Blockchain relies on consensus algorithm to reach on an agreement among nodes participating in it. There are numerous consensus algorithms among which PoW- Proof of work algorithm and PoS- Proof of Stake algorithm are the most widely used consensus algorithms. This paper covers the basic detailed overview and review of Blockchain along with its architecture and characteristics, Bitcoin and comparison of various consensus algorithms.
Keywords: Blockchain, Bitcoin, Cryptocurrency, Consensus algorithm, Distributed
Cite Article: "Relative Analysis of Blockchain, Bitcoin and Consensus Algorithm", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.5, Issue 8, page no.185 - 189, August-2020, Available :http://www.ijsdr.org/papers/IJSDR2008019.pdf
Downloads: 00060115
Publication Details: Published Paper ID: IJSDR2008019
Registration ID:192280
Published In: Volume 5 Issue 8, August-2020
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.24223
Page No: 185 - 189
Publisher: IJSDR | www.ijsdr.org
ISSN Number: 2455-2631

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