Reputation-Based Leader Selection Consensus Algorithm with Rewards for Blockchain Technology

Abstract

Blockchain technology is an emerging decentralized and distributed technology that can maintain data security. It has the potential to transform many sectors completely. The core component of blockchain networks is the consensus algorithm because its efficiency, security, and scalability depend on it. A consensus problem is a difficult and significant task that must be considered carefully in a blockchain network. It has several practical applications such as distributed computing, load balancing, and blockchain transaction validation. Even though a lot of consensus algorithms have been proposed, the majority of them require many computational and communication resources. Similarly, they also suffer from high latency and low throughput. In this work, we proposed a new consensus algorithm for consortium blockchain for a leader selection using the reputation value of nodes and the voting process to ensure high performance. A security analysis is conducted to demonstrate the security of the proposed algorithm. The outcomes show that the proposed algorithm provides a strong defense against the network nodes’ abnormal behavior. The performance analysis is performed by using Hyperledger Fabric v2.1 and the results show that it performs better in terms of throughput, latency, CPU utilization, and communications costs than its rivals Trust-Varying Algo, FP-BFT, and Scalable and Trust-based algorithms.

Keywords

• blockchain
• consensus algorithm
• node classification
• voting process
• leader election
• hyperledger fabric