Cryptocurrency

Implementation

Distributed ledger

Operating system

Cryptography

Interoperability

Distributed computing

Embedded system

Computer security

Computer science

Software engineering

Byzantine fault tolerance

Fault tolerance

Blockchain

Proceedings of SPIE, the International Society for Optical Engineering/Proceedings of SPIE

Existing distributed ledger implementations – specifically, several blockchain implementations – embody a cacophony of divergent capabilities augmenting innovations of cryptographic hashes, consensus mechanisms, and asymmetric cryptography in a wide variety of applications. Whether specifically designed for cryptocurrency or otherwise, several distributed ledgers rely upon modular mechanisms such as consensus or smart contracts. These components, however, can vary substantially among implementations; differences involving proof-of-work, practical byzantine fault tolerance, and other consensus approaches exemplify distinct distributed ledger variations. Such divergence results in unique combinations of modules, performance, latency, and fault tolerance. As implementations continue to develop rapidly due to the emerging nature of blockchain technologies, this paper encapsulates a snapshot of sensor and internet of things (IoT) specific implementations of blockchain as of the end of 2016. Several technical risks...

Practical comparison of distributed ledger technologies for IoT