Designing a Secure Consensus Algorithm for Use in Blockchain

Blockchain technology eliminates the need for a central authority. This system consists of a distributed ledger with a chain of blocks that records every network transaction. This ledger is replicated by every node in the network. We require a mechanism that provides consensus for the entire network, known as "consensus algorithm," in order for the state of this ledger to be the same for all nodes of the network at any given time. In this work, we will suggest a novel consensus algorithm that protects the blockchain platform from four common attacks. These attacks include the Sybil, Denial of Service, 51%, and Eclipse attacks. Due to its multiple control parameters, generic and all-purpose character, immunity to different attacks, and acceptable execution speed, our suggested algorithm can be used to build secure blockchain-based systems in a variety of applications.