Published Online:July 2024
Product Name:The IUP Journal of Computer Sciences
Product Type:Article
Product Code:
Author Name:Talla Mokshanand, Gnaneeshrao Garikipati and Dileep Kumar Murala
Availability:YES
Subject/Domain:Engineering
Download Format:PDF
Pages:17
The paper examines three renowned blockchain systems, Bitcoin, Ethereum and Hyperledger Fabric, with the aim of offering a comprehensive understanding of how consensus and fault tolerance synergistically contribute to the reliability and resilience of networks. Additionally, case studies of historical incidents and system upgrades within each blockchain system offer a qualitative lens to view the evolution and adaptation of consensus and fault tolerance. The results illuminate the intricate interaction between decentralized agreement algorithms and resilient strategies. The study adds a deeper comprehension of how these aspects collectively impact the dependability, safety and stability of blockchain networks. This investigation contributes to the broader discussion surrounding decentralized systems, providing valuable perspectives for researchers, practitioners, and policymakers as they navigate the constantly evolving realm of blockchain technology.
Blockchain technology was first intended to serve as the foundation for cryptocurrencies, but it has now developed into a complex transformative model that is applied across numerous industries. In essence, the fundamental ideas of blockchain are transparency, immutability and decentralization. Blockchain technology’s decentralized nature stems from a network of dispersed nodes that come to a consensus on the system’s state collectively (Bessani et al., 2014). This process, called distributed consensus, keeps all network users in sync and produces agreement on the blockchain ledger.