Performance analysis and comparison of PoW,PoS and DAG based blockchains |
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| Affiliation: | 1. The State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, Beijing, 100876, China;2. The State Key Laboratory of Integrated Services Networks (Xidian University), Xian, 710000, China;3. School of Communications and Information Engineering and Chongqing Key Lab of Mobile Communications Technology, Chongqing University of Posts and Telecommunications, Chongqing, 400065, China;4. The Guangdong Key Laboratory of Intelligent Information Processing, College of Electronic and Information Engineering, Shenzhen University, Shenzhen, 518060, China;5. College of Information Engineering, Shenzhen University, Shenzhen, 518060, China;6. School of Engineering, University of Glasgow, Glasgow, G12 8QQ, UK |
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| Abstract: | In the blockchain, the consensus mechanism plays a key role in maintaining the security and legitimation of contents recorded in the blocks. Various blockchain consensus mechanisms have been proposed. However, there is no technical analysis and comparison as a guideline to determine which type of consensus mechanism should be adopted in a specific scenario/application. To this end, this work investigates three mainstream consensus mechanisms in the blockchain, namely, Proof of Work (PoW), Proof of Stake (PoS), and Direct Acyclic Graph (DAG), and identifies their performances in terms of the average time to generate a new block, the confirmation delay, the Transaction Per Second (TPS) and the confirmation failure probability. The results show that the consensus process is affected by both network resource (computation power/coin age, buffer size) and network load conditions. In addition, it shows that PoW and PoS are more sensitive to the change of network resource while DAG is more sensitive to network load conditions. |
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| Keywords: | Blockchain Proof of work Proof of stake Direct acyclic graph Performance comparison |
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