Abstract:

In the digital world Smart contracts have become invincible. One of the applications of smart contracts is Blockchain has many advantages including decentralization, continuity, privacy, auditability and traceability. There is a broad variety of blockchain applications from cryptocurrencies, financial services, risk management, internet of things (IoT), and public and social services. Mining creates new blocks in the chain through secure and robust consensus. Mining also introduces rewards for the validation work. The blockchain taxonomy, introduces typical blockchain consensus algorithms. While a range of swotting concentrate on using blockchain technology in various applications, the unified blockchain does not have a systematic survey of mining techniques. Our motive is to observe and compare various blockchain mining techniques used by general blockchain applications including crypto currencies. The analysis will model a comprehensive new optimized blockchain mining architecture which would incorporate all common parameters as well as differences among the existing architectures. As the architecture gets designed it will be analyzed and then it will be implemented for validation.

Keywords: