The Quest for Scalable Blockchain Fabric: Proof-of-Work vs. BFT Replication

The Quest for Scalable Blockchain Fabric: Proof-of-Work vs. BFT Replication

Oct 2015 | Marko Vukolić
The paper "The Quest for Scalable Blockchain Fabric: Proof-of-Work vs. BFT Replication" by Marko Vukolić explores the trade-offs between proof-of-work (PoW) and Byzantine fault-tolerant (BFT) consensus mechanisms in blockchain technology. The author highlights the limitations of PoW-based blockchains, particularly in terms of performance and scalability, and contrasts them with the advantages of BFT protocols in handling high transaction volumes and achieving consensus in the presence of malicious nodes. The paper discusses recent proposals to improve the scalability of both PoW and BFT blockchains, including the GHOST rule for conflict resolution, Bitcoin-NG for leader election, and parallelization techniques like BlockDAGs. It also examines the potential of hybrid approaches that combine PoW and BFT elements. The conclusion emphasizes the need for further research to optimize the performance and scalability of blockchain fabrics, particularly in addressing the challenges of large-scale applications.The paper "The Quest for Scalable Blockchain Fabric: Proof-of-Work vs. BFT Replication" by Marko Vukolić explores the trade-offs between proof-of-work (PoW) and Byzantine fault-tolerant (BFT) consensus mechanisms in blockchain technology. The author highlights the limitations of PoW-based blockchains, particularly in terms of performance and scalability, and contrasts them with the advantages of BFT protocols in handling high transaction volumes and achieving consensus in the presence of malicious nodes. The paper discusses recent proposals to improve the scalability of both PoW and BFT blockchains, including the GHOST rule for conflict resolution, Bitcoin-NG for leader election, and parallelization techniques like BlockDAGs. It also examines the potential of hybrid approaches that combine PoW and BFT elements. The conclusion emphasizes the need for further research to optimize the performance and scalability of blockchain fabrics, particularly in addressing the challenges of large-scale applications.
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