Performance Analysis of Reputation based Proof of Credibility Consensus Mechanism for Blockchain based Applications

Blockchain is a decentralized transaction and data management technology first developed for the Bitcoin cryptocurrency. Blockchain technology is gaining popularity due to its core attributes which provides security, anonymity and data integrity without any involvement of third party. Consensus mechanism is a procedure by which all peers in the blockchain network agrees to a common agreement on the current state of the distributed ledger. It plays vital role in increasing efficiency of any blockchain environment. Though we have many consensus mechanisms working currently in different areas but they still lack in parameters like status of validators, latency, node failure etc. In Our proposed algorithm Proof of credibility, we have tried to incorporate all above factors in it. We have also implemented two or more factors of proposed algorithm and have evaluated and compared with existing consensus algorithm. In future research we aim to implement RPoC in any blockchain network and then we will evaluate it in terms of different evaluation parameters such as performance, security, scalability

Performance comparison of consensus algorithms with computer simulation

Blockchain je u proteklih nekoliko godina dobio široku pozornost zbog njegove primjene na kripto valutama i tehnologijama distribuiranih knjiga (Distributed Ledger), kao što su Bitcoin i Ethereum. Složena i decentralizirana priroda blockchain tehnologija otežava razumijevanje ponašanja pojedinih komponenata i njihovog učinka na blockchain sustav. Dolaskom novih konsenzus algoritama, kao što je Proof of Authority (PoA), razumijevanje ovog složenog sustava postaje izazovan zadatak. U ovom radu predlažemo PoASim, podesiv, diskretni simulacijski alat za simulaciju dvaju glavnih PoA algoritama, nazvanih Clique i Aura. PoASim može pomoći korisnicima da bolje razumiju temeljne slojeve Ethereum blockchain-a, kao i razumijevanje razlika konsenzusa i nedostataka između dva konsenzus algoritma. PoASim tako može poslužiti kao koristan alat za bolje razumijevanje ponašanja svakog konsenzusa pokretanjem simulacija s različitim parametrima i analizom ponašanja sustava.Blockchain have received widespread attention over the past few years because of its application on cryptocurrencies and Distributed Ledger technologies, such as Bitcoin and Ethereum. Complex and decentralized nature of blockchain technologies makes it difficult to understand behaviors of individual components and their effect on the blockchain system. With the arrival of new consensus algorithms, such as Proof-of-Authority (PoA), understanding this complex system becomes a challenging task. In this thesis, we propose PoASim, configurable, discrete-event simulation tool for simulating two of the main PoA algorithms, named Clique and Aura. PoASim can help users better understand the underlying layers of the Ethereum blockchain, as well as understanding consensus differences and drawbacks between the two consensus algorithms. PoASim can thus serve as a useful tool for better understanding behavior of each consensus by running simulations with varying parameters and then analyzing the system behavior

Performance comparison of consensus algorithms with computer simulation

Blockchain je u proteklih nekoliko godina dobio široku pozornost zbog njegove primjene na kripto valutama i tehnologijama distribuiranih knjiga (Distributed Ledger), kao što su Bitcoin i Ethereum. Složena i decentralizirana priroda blockchain tehnologija otežava razumijevanje ponašanja pojedinih komponenata i njihovog učinka na blockchain sustav. Dolaskom novih konsenzus algoritama, kao što je Proof of Authority (PoA), razumijevanje ovog složenog sustava postaje izazovan zadatak. U ovom radu predlažemo PoASim, podesiv, diskretni simulacijski alat za simulaciju dvaju glavnih PoA algoritama, nazvanih Clique i Aura. PoASim može pomoći korisnicima da bolje razumiju temeljne slojeve Ethereum blockchain-a, kao i razumijevanje razlika konsenzusa i nedostataka između dva konsenzus algoritma. PoASim tako može poslužiti kao koristan alat za bolje razumijevanje ponašanja svakog konsenzusa pokretanjem simulacija s različitim parametrima i analizom ponašanja sustava.Blockchain have received widespread attention over the past few years because of its application on cryptocurrencies and Distributed Ledger technologies, such as Bitcoin and Ethereum. Complex and decentralized nature of blockchain technologies makes it difficult to understand behaviors of individual components and their effect on the blockchain system. With the arrival of new consensus algorithms, such as Proof-of-Authority (PoA), understanding this complex system becomes a challenging task. In this thesis, we propose PoASim, configurable, discrete-event simulation tool for simulating two of the main PoA algorithms, named Clique and Aura. PoASim can help users better understand the underlying layers of the Ethereum blockchain, as well as understanding consensus differences and drawbacks between the two consensus algorithms. PoASim can thus serve as a useful tool for better understanding behavior of each consensus by running simulations with varying parameters and then analyzing the system behavior