Survey on Consensus Algorithms in Blockchain for Secure Data Sharing

Thirumalaimuthu T. Ramanathan*
Information Science and Technology, Multimedia University, Melaka, Malaysia.
Periodicity:January - June'2020
DOI : https://doi.org/10.26634/jcc.7.1.17114

Abstract

Blockchain technology is one of the latest innovations that provide a secured, decentralized, distributed database of records of all transaction and digital events. In recent years, blockchain technology is being applied in many powerful applications such as financial services, smart contracts, healthcare, supply chain management, e-voting etc. As blockchain ensures high security, it is being trusted and accepted by many business organizations. Consensus algorithms are the primary component of blockchain technology that maintains integrity and security in blockchain. This paper reviews various blockchain based data sharing architectures and their consensus algorithms that were proposed in the recent years for data sharing security. The importance of consensus algorithms in blockchain, and their advantages and disadvantages are discussed in this paper.

Keywords

Blockchain Technology, Consensus Mechanism, Consensus Algorithms, Data Sharing Security.

How to Cite this Article?

Ramanathan, T. T. (2020). Survey on Consensus Algorithms in Blockchain for Secure Data Sharing. i-manager's Journal on Cloud Computing, 7(1), 26-31. https://doi.org/10.26634/jcc.7.1.17114

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