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Appl. Sci. 2021, 11, 9372 4 of 27 cannot be removed but can be added to a chain [14]. A block of information may be ma- nipulated by peer nodes on the blockchain, and a common database with an ever-growing list of immutable and irreversible records can be created [17]. Distributed consensus mechanism is critical for blockchain since it determines which block can be accepted and inserted into the chain. This is similar to agreeing on distributed power allocation because the node authoring the accepted block can change the state of the database shared by every other peer. To prevent abuse, the power distribution mech- anism must be linked to cost and resources. The proof-of-work technique used by the in- itial Bitcoin blockchain requires nodes to compete by solving a cryptographically compli- cated puzzle. This puzzle feature ensures three properties: a node must invest a commen- surate amount of processing resources to complete it, the next node to successfully solve the puzzle is chosen at random, and a node’s claim to having found the puzzle’s answer can be easily validated by any other peer nodes. One further concern, however, is the random choice of malicious nodes controlled by an attacker as the official validator, pro- vided they are in line with the same procedure. Once selected, a rogue node might still be able to insert itself into the blockchain blocks of fake transaction data. Thus, after a peer node receives the block proposed by the official validator, there is an implicit consensus follow-up. In that stage, pair nodes can verify the transactions in the new block received and can maintain the previous condition of the blockchain without accepting a new block, if there are any anomalies (e.g., discrepancy of related hash values or missing transaction signing and identity). Otherwise, the node will confirm the new block and accept an up- dated blockchain if all goes properly. With the amount of acceptance confirmations it re- ceives from several nodes, the probability of a block being rejected decreases exponen- tially. After a certain number of confirmations, “5–6 in the case of Bitcoin”, the block is deemed permanent (occasionally it may take over an hour for this process to be com- pleted). The cost of a blockchain relies on the computer resources needed for the mining process. The miners, who produce new blocks in combination with unrecorded transac- tions, receive a blockchain of this kind to create new blocks. Mining companies are com- peting to solve a mathematical riddle for gaining a price, and substantial investment in computer resources is needed for mining in blockchain. The prices of electricity for trad- ing in P2P energy typically fall below the prices of energy purchases from a business of utilities [18]. The blockchain is basically made up of a series of cryptographically linked blocks carrying a list of transactions such as the traditional public ledger [12]. Figure 2 illustrates a simplified example of a blockchain structure. Every block points to a similar related block by a relation that is conceptually the hash value of the previous block called the parent block. The first block in the chain is referred as Genesis block, and it has no prior block [17]. Figure 2. An example of blockchain consisting of a continuous linked block. A block is fundamentally divided into 2 sections, the block body and the block header. Block header carries these metadata: block version, Prev-hash, timestamp, Merkle tree, bits, and Nonce value, whereas the block body comprises a list of transactions. The quantity of the transactions is entirely dependent on the size of the block.PDF Image | Review of Challenges in Blockchain Scalability
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