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Title: A survey on consensus mechanisms and mining strategy management in blockchain networks
Authors: Wang, Wenbo
Hoang, Dinh Thai
Hu, Peizhao
Xiong, Zehui
Niyato, Dusit
Wang, Ping
Wen, Yonggang
Kim, Dong In
Keywords: Blockchain
Permissionless Consensus
DRNTU::Engineering::Computer science and engineering
Issue Date: 2019
Source: Wang, W., Hoang, D. T., Hu, P., Xiong, Z., Niyato, D., Wang, P., . . . Kim, D. I. (2019). A survey on consensus mechanisms and mining strategy management in blockchain networks. IEEE Access, 7, 22328-22370. doi:10.1109/ACCESS.2019.2896108
Series/Report no.: IEEE Access
Abstract: The past decade has witnessed the rapid evolution in blockchain technologies, which has attracted tremendous interests from both the research communities and industries. The blockchain network was originated from the Internet financial sector as a decentralized, immutable ledger system for transactional data ordering. Nowadays, it is envisioned as a powerful backbone/framework for decentralized data processing and data-driven self-organization in flat, open-access networks. In particular, the plausible characteristics of decentralization, immutability, and self-organization are primarily owing to the unique decentralized consensus mechanisms introduced by blockchain networks. This survey is motivated by the lack of a comprehensive literature review on the development of decentralized consensus mechanisms in blockchain networks. In this paper, we provide a systematic vision of the organization of blockchain networks. By emphasizing the unique characteristics of decentralized consensus in blockchain networks, our in-depth review of the state-of-the-art consensus protocols is focused on both the perspective of distributed consensus system design and the perspective of incentive mechanism design. From a game-theoretic point of view, we also provide a thorough review of the strategy adopted for self-organization by the individual nodes in the blockchain backbone networks. Consequently, we provide a comprehensive survey of the emerging applications of blockchain networks in a broad area of telecommunication. We highlight our special interest in how the consensus mechanisms impact these applications. Finally, we discuss several open issues in the protocol design for blockchain consensus and the related potential research directions.
DOI: 10.1109/ACCESS.2019.2896108
Schools: School of Computer Science and Engineering 
Rights: © 2019 IEEE. Translations and content mining are permitted for academic research only. Personal use is also permitted, but republication/redistribution requires IEEE permission. See for more information.
Fulltext Permission: open
Fulltext Availability: With Fulltext
Appears in Collections:SCSE Journal Articles

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