Streamlet blockchain implementation
As the popularity of blockchain technology rapidly increased after Satoshi Nakamoto’s proposed cryptocurrency Bitcoin was published, various consensus protocols have been developed for various applications. However, due to the high energy consumption of Proof-of-Work, there has been a paradigm...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2021
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| Online Access: | https://hdl.handle.net/10356/148101 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | As the popularity of blockchain technology rapidly increased after Satoshi Nakamoto’s proposed cryptocurrency Bitcoin was published, various consensus protocols have been developed for various applications. However, due to the high energy consumption of Proof-of-Work, there has been a paradigm shift towards Proof-of-Stake, which is an alternate consensus protocol that rewards players based on the amount of stake they are willing to put in the blockchain. However, Proof-of-Stake has been a complex topic whose details seem to be scattered. In this report, a simplified paradigm proposed by Chan et al. called Streamlet was implemented using JavaScript language. A thorough analysis of both the concept as well as the implementation process of the Streamlet protocol will be presented.It is hoped that this project can allow people to understand how blockchain technology works using a graphical interface to visually demonstrate the workflow of the simplified protocol of Streamlet. |
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