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Impacts of Consensus Protocols and Trade Network Topologies on Blockchain System Performance
By: Xianhua Wei, Aiya Li, Zhou He, Volume 23 (3)
Abstract: Blockchain can be viewed as a public ledger maintained collectively by a large number of participators based on consensus protocol. We are interested in how difference consensus protocols and trade network topologies affect the performance of a blockchain system, which has not been studied in the literature yet. In this paper, we proposed an agent-based model consisting of multiple trader and miner agents, and one system agent. We investigated three consensus protocols, namely proof-of-work (PoW), proof-of-stake (PoS), and delegated proof-of-stake (DPoS). We also examined three common trade ne ...