A Random and Scalable Blockchain Consensus Mechanism

Abstract

The central piece of blockchain technologies is the consensus algorithm. The consensus is reached via consensus algorithms in the distributed network of the blockchain. The consensus becomes stronger if nearly all the nodes in the blockchain network take part in building the blockchain. Even if some nodes misbehave or malfunction, the consensus should not break down then. Since blockchain networks are distributed, even if some regions of the network or some nodes of the network leave, the blockchain network should not malfunction and it should be consistent. Therefore, the consistency of the blockchain transactions should be assured by all the nodes or nearly all the nodes, or most of the nodes. In other words, the consensus should be the issue of all the nodes. In this work, a novel consensus algorithm is presented to diffuse the mission of building the blockchain to all the nodes. In other words, the consensus should be the issue of all the nodes. In this work, a novel consensus algorithm is presented to diffuse the mission of building the blockchain to all the nodes. The algorithm increases the randomness of nodes and enforces the blockchain network to be more decentralized. Randomness is realized by employing the power of cryptography, especially by using public keys as a characteristic for miners, which are also called signers. Moreover, since the algorithm is realized with a few operations, it contributes to the scalability of the blockchain. Furthermore, digital signatures improve the security level and consistency of the blockchain.