Published Paper Details:

The distributed consensus mechanism is the backbone of a blockchain network, and it plays a key role in ensuring the network's security, integrity, and performance. Most current blockchain networks have been deploying the proof-of-work consensus mechanisms, in which the consensus is reached through intensive mining processes. However, this mechanism has a number of drawbacks, including the fact that it relies on a single point of failure, which makes it vulnerable to attack. Our Enhanced PoS consensus algorithm contains three phases: consensus process, consensus group formation, and node trust assessment. Applying the EigenTrust concept to the blockchain network lessens the impact of rogue nodes. The data reveals that O((dN)2) (0d1) is the number of messages of our Enhanced proof of stake sent across nodes. Our Enhanced proof of stake has O(N2) communication complexity and a low view change probability. The result of the throughput analysis of our proposed algorithm shows there is a steady increase in the transaction commit rate which was due to the proposed algorithm's minimal amount of communication during the transaction validation process, thus making the time required for transaction confirmation lesser than the traditional PoS. Also, the proposed algorithm discovers and deletes the problematic nodes unlike the traditional PoS algorithm which does not alter the rate of faulty nodes throughout execution. As a result, the rate of problematic nodes will steadily decline and the proposed algorithm can be seen as more secured and reliable in a blockchain network. In terms of node communication, the proposed model uses fewer resources and requires little inter-node communication. The system's efficacy, efficiency, and scalability are also explored, and the constructed method is contrasted with alternative consensus techniques. Finally, a reliable consensus based on the EigenTrust Model can be achieved by reducing the number of consensus nodes, which will increase consensus effectiveness and lower the communication cost. Thus, the experimental results show that the proposed system works better than the traditional PoS method, resulting in a 25% decrease in transaction confirmation time.