SoK: A Taxonomy for Critical Analysis of Consensus Mechanisms in Consortium Blockchain

TL;DR

This paper provides a comprehensive taxonomy and critical analysis of consensus mechanisms in consortium blockchains, evaluating their reliability, performance, and security to guide future research directions.

Contribution

It introduces a structured taxonomy for analyzing consensus algorithms in consortium blockchains, highlighting their strengths, weaknesses, and research challenges.

Findings

Consensus mechanisms vary significantly in reliability, performance, and security.

The taxonomy helps identify gaps and opportunities for improving blockchain consensus algorithms.

Future research should focus on enhancing security and efficiency in consortium blockchain consensus mechanisms.

Abstract

Consensus algorithms are central to blockchain technology and an emerging research area. In this paper, we begin with an overview of the different types and architectures of blockchain networks. Then, with a focus on consortium blockchains, we survey, classify, and assess their principal consensus mechanisms. Furthermore, as consensus mechanisms determine network reliability, enhance performance efficiency, and ensure system security, we conduct a critical analysis of the strengths and weaknesses of consensus algorithms using a taxonomy of three different criteria: reliability, performance, and security. We conclude with insights into current and future research challenges and opportunities in this domain.