Hind Baageel1, Md Mahfuzur Rahman1,2,*
CMC-Computers, Materials & Continua, Vol.81, No.1, pp. 1215-1233, 2024, DOI:10.32604/cmc.2024.055908
- 15 October 2024
Abstract The advent of blockchain technology has transformed traditional methods of information exchange, shifting reliance from centralized data centers to decentralized frameworks. While blockchain’s decentralization and security are strengths, traditional consensus mechanisms like Proof of Work (PoW) and Proof of Stake (PoS) face limitations in scalability. PoW achieves decentralization and security but struggles with scalability as transaction volumes grow, while PoS enhances scalability, but risks centralization due to monopolization by high-stake participants. Sharding, a recent advancement in blockchain technology, addresses scalability by partitioning the network into shards that process transactions independently, thereby improving throughput and reducing… More >
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