Blockchain Networks – Security Aspects and Consensus Models

Abstract

Data integration and fast effective data processing are the primary challenges in today’s high-performance computing systems used for Big Data processing and analysis in practical scenarios. Blockchain (BC) is a hot, modern technology that ensures high security of data processes stored in highly distributed networks and ICT infrastructures. BC enables secure data transfers in distributed systems without the need for all operations and processes in the network to be initiated and monitored by any central authority (system manager). This paper presents the background of a generic architectural model of a BC system and explains the concept behind the consensus models used in BC transactions. Security is the main aspect of all defined operations and BC nodes. The paper presents also specific BC use cases to illustrate the performance of the system in practical scenarios.