Romanian Cyber Security Journal / Fall 2023, No. 2, Vol. 5

Security of Consensus Mechanisms in Blockchain

Mihai BABOI

---

Abstract

Blockchain technology has gained widespread recognition as a revolutionary decentralized system that offers immutable and secure transaction records. A key element responsible for ensuring the integrity and trustworthiness of blockchain networks is the consensus mechanism. The consensus mechanism defines the rules through which nodes in a distributed network agree on the validity of transactions and maintain a consistent and tamper-resistant ledger. This paper explores the security aspects related to various consensus mechanisms in blockchain and their role in safeguarding the network from potential attacks. Consensus mechanisms play a pivotal role in ensuring coherence and agreement among nodes in distributed systems. These mechanisms enable nodes to collectively determine the state of the system, even in the presence of adversarial behavior. This text delves into the concept of consensus mechanisms, their importance in various contexts, and their role in guaranteeing reliability and trust, supported by insights from academic research.

Keywords

Security, Blockchain Architecture, Attack, Consensus Mechanisms, Trilemma, Byzantine Fault Tolerance