Enhancing efficiency and scalability in Blockchain Consensus algorithms: The role of Checkpoint approach

Abstract

Blockchain technology has gained significant attention due to its potential to revolutionize various industries by providing decentralized, transparent, and secure systems. However, the scalability and efficiency challenges faced by traditional blockchain consensus algorithms have hindered widespread adoption. Consensus algorithms play a crucial role in achieving agreement among network participants regarding the validity and ordering of transactions. Traditional consensus algorithms like Proof of Work (PoW) and Proof of Stake (PoS) have shown limitations in terms of their resource-intensive nature, slow transaction processing, and limited scalability. This paper presents efficiency and scalability is critical considerations in blockchain consensus algorithms. The utilization of checkpoint mechanisms offers promising avenues for enhancing the performance of consensus protocols. The role and purpose of checkpoint approach, areas of improvement, research direction in the field of blockchain technology.

URN:NBN:sciencein.jist.2024.v12.706