Abstract
Currently, blockchain technology is not only gaining momentum in the financial industry but also showing promising developments in other sectors. Due to its suitability for various societal needs, an increasing number of non-financial institutions are expanding the scope of blockchain services beyond finance to areas such as healthcare service management and enterprise governance. The core of a blockchain system lies in consensus, which plays a crucial role in its performance and security. The PBFT algorithm is a widely used fault-tolerant consensus algorithm. However, it suffers from issues like high consensus latency, low throughput, and poor performance. In recent years, the HBFT algorithm has addressed these concerns. This paper proposes an improved HBFT blockchain consensus algorithm tailored for large enterprises and non-financial institutions with multiple independent functions. The goal is to achieve more efficient data management and election strategies that are both more secure than PBFT and more efficient than HBFT. Leveraging the enhanced HBFT consensus algorithm ensures stability and efficiency in the consensus and verification processes between organizations. Additionally, it enables the efficient management of data and value creation in the application context.
Published Version
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