A High Performance Consensus Algorithm for Consortium Blockchain

Abstract

Blockchain is an emerging decentralized infrastructure and distributed computing paradigm. Blockchain has been widely used in many industries including finance, energy, and cloud computing. Consortium blockchain is known as the permissioned blockchain, in which each user needs to be authorized. Distributed consensus is the core issue of consortium blockchain technology. In order to solve the disadvantages of using Proof of Work (POW) algorithm in consortium blockchain, such as computing resources waste, long block confirmation delay and low throughput, we designed and implemented a high performance blockchain consensus algorithm based on message passing technology called HPBC. HPBC algorithm can work well in asynchronous networks with Byzantine nodes. Results from theoretical analysis and performance evaluation show that HPBC algorithm provides safe and reliable distributed consensus services in consortium blockchain with low overhead. Finally, we summarized HPBC algorithm and briefly explore its further research directions.