Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere

Blockchain is one of the leading data transfer technologies that eliminate the need for centralized management through consensus algorithms. This article describes the consensus algorithms, their benefits, and their applications within a micropayment system in the financial sector. Preliminary studi...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Olga A. Safaryan, Kirill S. Lemeshko, Alexey N. Beskopylny, Larissa V. Cherckesova, Denis A. Korochentsev
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	blockchain consensus protocol security throughput capacity distributed ledger (registry) technology Proof of Work algorithm (PoW) Electronics TK7800-8360
Acceso en línea:	https://doaj.org/article/1c39fc1811ac4aa59aa0a2987cd82268
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:1c39fc1811ac4aa59aa0a2987cd82268
record_format	dspace
spelling	oai:doaj.org-article:1c39fc1811ac4aa59aa0a2987cd822682021-11-11T15:39:28ZMathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere10.3390/electronics102126592079-9292https://doaj.org/article/1c39fc1811ac4aa59aa0a2987cd822682021-10-01T00:00:00Zhttps://www.mdpi.com/2079-9292/10/21/2659https://doaj.org/toc/2079-9292Blockchain is one of the leading data transfer technologies that eliminate the need for centralized management through consensus algorithms. This article describes the consensus algorithms, their benefits, and their applications within a micropayment system in the financial sector. Preliminary studies have shown that the performance of distributed databases largely depends on the chosen consensus algorithm. The main task of the study is to create a mathematical model to assess their performance. The most popular crypto projects and the consensus algorithms are analyzed to determine their performance. The obtained model was tested by calculating the parameters of the distributed register based on the directed acyclic graph algorithm and calculating the parameters of other algorithms used. The result is a mathematical model for evaluating the parametric characteristics of the work of consensus algorithms with the choice of the most priority one for implementation in the financial sector. The analysis focuses on the mathematical steps taken by each consensus algorithm. The data obtained using the developed mathematical model demonstrates that PoW, PoS, and DAG algorithms depend on various resources, such as computing power, the number of connected nodes, and the speed of receiving transactions.Olga A. SafaryanKirill S. LemeshkoAlexey N. BeskopylnyLarissa V. CherckesovaDenis A. KorochentsevMDPI AGarticleblockchainconsensus protocolsecuritythroughput capacitydistributed ledger (registry) technologyProof of Work algorithm (PoW)ElectronicsTK7800-8360ENElectronics, Vol 10, Iss 2659, p 2659 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	blockchain consensus protocol security throughput capacity distributed ledger (registry) technology Proof of Work algorithm (PoW) Electronics TK7800-8360
spellingShingle	blockchain consensus protocol security throughput capacity distributed ledger (registry) technology Proof of Work algorithm (PoW) Electronics TK7800-8360 Olga A. Safaryan Kirill S. Lemeshko Alexey N. Beskopylny Larissa V. Cherckesova Denis A. Korochentsev Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere
description	Blockchain is one of the leading data transfer technologies that eliminate the need for centralized management through consensus algorithms. This article describes the consensus algorithms, their benefits, and their applications within a micropayment system in the financial sector. Preliminary studies have shown that the performance of distributed databases largely depends on the chosen consensus algorithm. The main task of the study is to create a mathematical model to assess their performance. The most popular crypto projects and the consensus algorithms are analyzed to determine their performance. The obtained model was tested by calculating the parameters of the distributed register based on the directed acyclic graph algorithm and calculating the parameters of other algorithms used. The result is a mathematical model for evaluating the parametric characteristics of the work of consensus algorithms with the choice of the most priority one for implementation in the financial sector. The analysis focuses on the mathematical steps taken by each consensus algorithm. The data obtained using the developed mathematical model demonstrates that PoW, PoS, and DAG algorithms depend on various resources, such as computing power, the number of connected nodes, and the speed of receiving transactions.
format	article
author	Olga A. Safaryan Kirill S. Lemeshko Alexey N. Beskopylny Larissa V. Cherckesova Denis A. Korochentsev
author_facet	Olga A. Safaryan Kirill S. Lemeshko Alexey N. Beskopylny Larissa V. Cherckesova Denis A. Korochentsev
author_sort	Olga A. Safaryan
title	Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere
title_short	Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere
title_full	Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere
title_fullStr	Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere
title_full_unstemmed	Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere
title_sort	mathematical analysis of parametric characteristics of the consensus algorithms operation with the choice of the most priority one for implementation in the financial sphere
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/1c39fc1811ac4aa59aa0a2987cd82268
work_keys_str_mv	AT olgaasafaryan mathematicalanalysisofparametriccharacteristicsoftheconsensusalgorithmsoperationwiththechoiceofthemostpriorityoneforimplementationinthefinancialsphere AT kirillslemeshko mathematicalanalysisofparametriccharacteristicsoftheconsensusalgorithmsoperationwiththechoiceofthemostpriorityoneforimplementationinthefinancialsphere AT alexeynbeskopylny mathematicalanalysisofparametriccharacteristicsoftheconsensusalgorithmsoperationwiththechoiceofthemostpriorityoneforimplementationinthefinancialsphere AT larissavcherckesova mathematicalanalysisofparametriccharacteristicsoftheconsensusalgorithmsoperationwiththechoiceofthemostpriorityoneforimplementationinthefinancialsphere AT denisakorochentsev mathematicalanalysisofparametriccharacteristicsoftheconsensusalgorithmsoperationwiththechoiceofthemostpriorityoneforimplementationinthefinancialsphere
_version_	1718434653717659648

Mathematical Analysis of Parametric Characteristics of the Consensus Algorithms Operation with the Choice of the Most Priority One for Implementation in the Financial Sphere

Ejemplares similares