Comparison of Consensus Algorithms in Blockchain for the Implementation of Central Bank Digital Currencies

Resumo

The choice of the consensus mechanism in the implementation of a Central Bank Digital Currency (CBDC) with Blockchain technology is critical, as it impacts the efficiency, scalability, and security of the system. In this context, this work analyzes three consensus algorithms: Practical Byzantine Fault Tolerance (pBFT), HotStuff, and Raft. Simulations are performed in the NS-3 environment to measure consensus times in networks with different numbers of nodes, message sizes, and latencies. The results show the superiority of the Raft algorithm, as it is the most scalable and optimizes consensus time by up to 134% and 277% compared to the pBFT and HotStuff algorithms, respectively. The paper concludes with a discussion of findings and suggestions for future work.