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DTSTAMP:20230128T224908Z
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DESCRIPTION:Bitcoin’s blockchain technology is emerging as an important a
 pproach for the decentralized management of digital assets ownership. A bl
 ockchain is a replicated ledger maintained in a decentralized manner\, wit
 hout requiring a central authority. A distributed consensus protocol is ne
 eded to ensure a globally-agreed total order on the blocks in the chain. F
 or this\, Bitcoin uses a technique called Proof-of-Work (PoW) which requir
 es each node wanting to append a new block to the chain to solve some hard
  cryptographic puzzle. This PoW-based mechanism of Bitcoin provides probab
 ilistic guarantees for consensus. This leads to several inherent difficult
 ies in scaling its performance. The PoW based consensus technique also req
 uires an inordinate amount of computing and electrical power. This talk pr
 esents the current research trends and directions in the investigation of 
 alternative approaches for building scalable blockchain services. The curr
 ent trends in this direction include the use of classical consensus protoc
 ols with Byzantine Fault Tolerance (BFT)\, sharding for parallel execution
  of validation tasks\, alternate data models\, such as multi-chains in pla
 ce of a linear chain\, and the use of other trust models and mechanisms in
  place of the PoW model. The alternate trust models being considered for t
 his purpose include Proof-of-Stake (PoS)\, Proof-of-Authority (PoA)\, and 
 Proof-of-Elapsed Time (PoET).\n\nSpeaker: Anand Tripathi\nUniversity of Mi
 nnesota - Twin Cities\n\nPhoto courtesy IEEE Innovation At Work.\n\nSpeake
 r(s): Anand Tripathi\, \n\nVirtual: https://events.vtools.ieee.org/m/31476
 7
LOCATION:Virtual: https://events.vtools.ieee.org/m/314767
ORGANIZER:greg.koch@computer.org
SEQUENCE:12
SUMMARY:Scalable Consensus Protocols and System Architectures for Blockchai
 n Services
URL;VALUE=URI:https://events.vtools.ieee.org/m/314767
X-ALT-DESC:Description: <br /><p>Bitcoin&rsquo\;s blockchain technology is 
 emerging as an important approach for the decentralized management of digi
 tal assets ownership. A blockchain is a replicated ledger maintained in a 
 decentralized manner\, without requiring a central authority. A distribute
 d consensus protocol is needed to ensure a globally-agreed total order on 
 the blocks in the chain. For this\, Bitcoin uses a technique called Proof-
 of-Work (PoW) which requires each node wanting to append a new block to th
 e chain to solve some hard cryptographic puzzle. This PoW-based mechanism 
 of Bitcoin provides probabilistic guarantees for consensus. This leads to 
 several inherent difficulties in scaling its performance. The PoW based co
 nsensus technique also requires an inordinate amount of computing and elec
 trical power. This talk presents the current research trends and direction
 s in the investigation of alternative approaches for building scalable blo
 ckchain services. The current trends in this direction include the use of 
 classical consensus protocols with Byzantine Fault Tolerance (BFT)\, shard
 ing for parallel execution of validation tasks\, alternate data models\, s
 uch as multi-chains in place of a linear chain\, and the use of other trus
 t models and mechanisms in place of the PoW model. The alternate trust mod
 els being considered for this purpose include Proof-of-Stake (PoS)\, Proof
 -of-Authority (PoA)\, and Proof-of-Elapsed Time (PoET).<br /><br />Speaker
 : Anand Tripathi<br />University of Minnesota - Twin Cities</p>\n<p>&nbsp\
 ;</p>\n<p><br />Photo courtesy IEEE Innovation At Work.</p>
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