SHBF: a secure and scalable hybrid blockchain framework for resolving trilemma challenges

In the rapidly evolving landscape of blockchain consensus algorithms, existing methods encounter limitations in terms of security, time efficiency, and versatility. This research addresses these challenges through the proposal and implementation of a novel consensus algorithm designed to overcome the blockchain trilemma, ensuring a harmonious balance between decentralization, security, and scalability. Implemented as a federated Byzantine agreement system, this consensus incorporates the strengths of various consensus models, including Honey Badger BFT (HBFT), Proof of Authority (PoA), Stellar Consensus Protocol (SCP) and Practical Byzantine Fault Tolerance (PBFT). The algorithm integrates adaptive validation mechanisms to accommodate both private and public blockchain environments, enhancing its versatility. Through a comprehensive fault tolerance and identity management system, this consensus ensures robustness against malicious nodes, promoting a secure and reliable consensus process. The proposed consensus algorithm optimizes time efficiency by streamlining the consensus process, drawing inspiration from the nomination and ballot protocol of SCP. The analysis of outcomes shows how effective this consensus is at performing transactions with a throughput of 1627 transactions per second (TPS) and a latency of just 45 milliseconds, significantly reducing the required block time for securing 90.9% protection against double spending, maintaining a low fork probability of 10%, and achieving a decentralization measure of 8.094 out of 10.