An Analysis on Blockchain Consensus Protocols for Fault Tolerance

Abstract

The revolution with technologies happens very often, here is one such technology called “Blockchain” which will be a game-changer in many functional sectors of the society. Initially, this technology was developed to support cryptocurrencies (such as Bitcoin, Ethereum, and Litecoin etc).Now a days it is gaining the attention of the researchers in almost the entire field. The consensus protocol in the cryptography and peer to peer architecture is one of the essential parts of the blockchain technology. The best consensus protocol in a blockchain system provides the fault tolerance. These censuses in blockchain are broadly classified in to two types. The absolute-finality consensus protocol and probabilistic-finality consensus protocols. In this paper, the different types of censuses protocols are discussed along with their working, strength and weakness. It also gives the overview on the different types of blockchain technology with their advantages and disadvantages. At the last we also presented a comparison of these consensus protocols by considering different qualitative parameters.