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Performance Analysis of Blockchain Consensus Protocols- A Review


Amina Yaqoob, Alma Shamas, Jawad Ibrahim


Vol. 23  No. 6  pp. 181-192


Blockchain system brought innovation in the area of accounting, credit monitoring and trade secrets. Consensus algorithm that considered the central component of blockchain, significantly influences performance and security of blockchain system. In this paper we presented four consensus protocols specifically as Proof of Work (PoW), Proof of Stake (PoS), Delegated Proof of Stake (DPoS) and Practical Byzantine Fault-Tolerance (PBFT), we also reviewed different security threats that affect the performance of Consensus Protocols and precisely enlist their counter measures. Further we evaluated the performance of these Consensus Protocols in tabular form based on different parameters. At the end we discussed a comprehensive comparison of Consensus protocols in terms of Throughput, Latency and Scalability. We presume that our results can be beneficial to blockchain system and token economists, practitioners and researchers.


Blockchain, Consensus Protocols, Security, Performance Measures