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Distributed ledger technology has gained wide popularity and adoption since the emergence of bitcoin in 2008 which is based on proof of work (PoW). It is a distributed, transparent and immutable database of records of all the transactions or events that have been shared and executed among the participants. All the transactions are verified and maintained by multiple nodes across a network without a central authority through a distributed cryptographic mechanism, a consensus protocol. It formsarXiv:1810.03357v2 fatcat:yjpcbkxwcfgmxka5bxgxjyevea