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A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS

Author

Listed:
  • Cristian Lepore

    (Computer Science Department at University of Milan, 20133 Milan, Italy)

  • Michela Ceria

    (Computer Science Department at University of Milan, 20133 Milan, Italy)

  • Andrea Visconti

    (Computer Science Department at University of Milan, 20133 Milan, Italy)

  • Udai Pratap Rao

    (Computer Engineering Department, S.V. National Institute of Technology, Surat, Gujarat 395007, India)

  • Kaushal Arvindbhai Shah

    (School of Computer Science and Engineering, Vellore Institute of Technology, Amaravati 522237, India)

  • Luca Zanolini

    (Institute of Computer Science, University of Bern, 103012 Bern, Switzerland)

Abstract

Blockchain technology started as the backbone for cryptocurriencies and it has emerged as one of the most interesting technologies of the last decade. It is a new paradigm able to modify the way how industries transact. Today, the industries’ concern is about their ability to handle a high volume of data transactions per second while preserving both decentralization and security. Both decentralization and security are guaranteed by the mathematical strength of cryptographic primitives. There are two main approaches to achieve consensus: the Proof-of-Work based blockchains—PoW—and the Proof-of-Stake—PoS. Both of them come with some pros and drawbacks, but both rely on cryptography. In this survey, we present a review of the main consensus procedures, including the new consensus proposed by Algorand: Pure Proof-of-Stake—Pure PoS. In this article, we provide a framework to compare the performances of PoW, PoS and the Pure PoS, based on throughput and scalability.

Suggested Citation

  • Cristian Lepore & Michela Ceria & Andrea Visconti & Udai Pratap Rao & Kaushal Arvindbhai Shah & Luca Zanolini, 2020. "A Survey on Blockchain Consensus with a Performance Comparison of PoW, PoS and Pure PoS," Mathematics, MDPI, vol. 8(10), pages 1-26, October.
    • Handle: RePEc:gam:jmathe:v:8:y:2020:i:10:p:1782-:d:427996
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    References listed on IDEAS

    as
    1. Max J. Krause & Thabet Tolaymat, 2018. "Quantification of energy and carbon costs for mining cryptocurrencies," Nature Sustainability, Nature, vol. 1(11), pages 711-718, November.
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    2. Giuseppe Varavallo & Giuseppe Caragnano & Fabrizio Bertone & Luca Vernetti-Prot & Olivier Terzo, 2022. "Traceability Platform Based on Green Blockchain: An Application Case Study in Dairy Supply Chain," Sustainability, MDPI, vol. 14(6), pages 1-14, March.
    3. Alam, Khandoker Shahjahan & Kaif, A.M.A. Daiyan & Das, Sajal K., 2024. "A blockchain-based optimal peer-to-peer energy trading framework for decentralized energy management with in a virtual power plant: Lab scale studies and large scale proposal," Applied Energy, Elsevier, vol. 365(C).
    4. Zeinab Teimoori & Abdulsalam Yassine, 2022. "A Review on Intelligent Energy Management Systems for Future Electric Vehicle Transportation," Sustainability, MDPI, vol. 14(21), pages 1-23, October.
    5. Ernest Barceló & Katarina Dimić-Mišić & Monir Imani & Vesna Spasojević Brkić & Michael Hummel & Patrick Gane, 2023. "Regulatory Paradigm and Challenge for Blockchain Integration of Decentralized Systems: Example—Renewable Energy Grids," Sustainability, MDPI, vol. 15(3), pages 1-27, January.

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