Efficient blockchain system based on proof of segmented work
This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science, 2019.
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Brac University
2020
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| Online pristup: | http://hdl.handle.net/10361/14064 |
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10361-140642022-01-26T10:13:21Z Efficient blockchain system based on proof of segmented work Ahmed, Rashad Ahmad, Alif Monem, Maruf Jumana Arif, Hossain Department of Computer Science and Engineering, Brac University Blockchain Cryptocurrency This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science, 2019. Cataloged from PDF version of thesis. Includes bibliographical references (pages 49-52). The use of Blockchain in Cryptocurrency introduces a technology that acts as an unswervingly growing ledger with the capability to keep an everlasting record of all the transactions that have taken place, in a secure chronological and immutable system. It removes dependency on central financial service providers such as banks, essentially removing the middle-man from the transaction. Bitcoin is one of the biggest users in blockchain and holds the highest share in the cryptocurrency market. However, bitcoin has three major problems which are excessive power consumption, confirmation time and fair reward distribution. Hence, we are proposing a system where we have tried to reduce energy consumption by limiting the participation of all the nodes in the network and worked on increasing the propagation speed in the network. Finally, we have put a lot of emphasis on the concept of fair reward distribution which is not considered in most cryptocurrencies. Apart from this, we tried to prove our systems efficiency by comparing the energy consumption with the two most used crypto currencies Bitcoin and Ethereum mathematically. And have reached the conclusion, that our proposed system shall reduce energy consumption by about 80.0% and 46.68% when compared with Bitcoin and Ethereum if each node in our network consumed the equivalent energy as an average node in the bitcoin network, on the otherhand, 92.41% and 79.76% if each node in our network consumed the equivalent energy as an average node in the ethereum network. Rashad Ahmed Alif Ahmad Maruf Monem Jumana B. Computer Science 2020-10-18T10:45:03Z 2020-10-18T10:45:03Z 2019 2019-12 Thesis ID: 15201037 ID: 19241039 ID: 19241041 ID: 16101275 http://hdl.handle.net/10361/14064 en_US Brac University theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. 52 pages application/pdf Brac University |
| institution |
Brac University |
| collection |
Institutional Repository |
| language |
en_US |
| topic |
Blockchain Cryptocurrency |
| spellingShingle |
Blockchain Cryptocurrency Ahmed, Rashad Ahmad, Alif Monem, Maruf Jumana Efficient blockchain system based on proof of segmented work |
| description |
This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science, 2019. |
| author2 |
Arif, Hossain |
| author_facet |
Arif, Hossain Ahmed, Rashad Ahmad, Alif Monem, Maruf Jumana |
| format |
Thesis |
| author |
Ahmed, Rashad Ahmad, Alif Monem, Maruf Jumana |
| author_sort |
Ahmed, Rashad |
| title |
Efficient blockchain system based on proof of segmented work |
| title_short |
Efficient blockchain system based on proof of segmented work |
| title_full |
Efficient blockchain system based on proof of segmented work |
| title_fullStr |
Efficient blockchain system based on proof of segmented work |
| title_full_unstemmed |
Efficient blockchain system based on proof of segmented work |
| title_sort |
efficient blockchain system based on proof of segmented work |
| publisher |
Brac University |
| publishDate |
2020 |
| url |
http://hdl.handle.net/10361/14064 |
| work_keys_str_mv |
AT ahmedrashad efficientblockchainsystembasedonproofofsegmentedwork AT ahmadalif efficientblockchainsystembasedonproofofsegmentedwork AT monemmaruf efficientblockchainsystembasedonproofofsegmentedwork AT jumana efficientblockchainsystembasedonproofofsegmentedwork |
| _version_ |
1814308227049848832 |