Interactive Proof-of-stake
نویسنده
چکیده
The paper examines decentralized cryptocurrency protocols that are based on the use of internal tokens as identity tools. An analysis of security problems with popular Proof-of-stake consensus protocols is provided. A new protocol, Interactive Proof-of-Stake, is proposed. The main ideas of the protocol are to reduce a number of variables a miner can iterate over to a minimum and also to bring a communication into block generation. The protocol is checked against known attacks. It is shown that Interactive Proof-of-Stake is more secure than current pure Proof-of-stake protocols.
منابع مشابه
NeuCoin: the First Secure, Cost-efficient and Decentralized Cryptocurrency
NeuCoin is a decentralized peer-to-peer cryptocurrency derived from Sunny King’s Peercoin, which itself was derived from Satoshi Nakamoto’s Bitcoin. As with Peercoin, proof-of-stake replaces proof-of-work as NeuCoin’s security model, effectively replacing the operating costs of Bitcoin miners (electricity, computers) with the capital costs of holding the currency. Proof-of-stake also avoids pro...
متن کاملTwinsCoin: A Cryptocurrency via Proof-of-Work and Proof-of-Stake
We design and implement TwinsCoin, the rst cryptocurrency based on a provably secure and scalable public blockchain design using both proof-of-work and proof-of-stake mechanisms. Dierent from the proof-ofwork based Bitcoin, our construction uses two types of resources, computing power and coins (i.e., stake). e blockchain in our system is more robust than that in a pure proof-of-work based s...
متن کاملCryptocurrencies Without Proof of Work
We study cryptocurrency protocols that do not make use of Proof of Work. Such protocols commonly rely on Proof of Stake, i.e. on mechanisms that extend voting power to the stakeholders of the system. We offer analysis of existing protocols that have a substantial amount of popularity. We then present our novel pure Proof of Stake protocols, and argue that the they help in mitigating problems th...
متن کاملCasper the Friendly Finality Gadget
We introduce Casper, a proof of stake-based finality system which overlays an existing proof of work blockchain. Casper is a partial consensus mechanism combining proof of stake algorithm research and Byzantine fault tolerant consensus theory. We introduce our system, prove some desirable features, and show defenses against long range revisions and catastrophic crashes. The Casper overlay provi...
متن کاملA Provably Secure Proof-of-Stake Blockchain Protocol
We present a provably-secure blockchain protocol based on “proof of stake.” As far as we are aware, this is the first proof of stake blockchain protocol which provides rigorous security guarantees. The security properties of the system are analyzed in the model of [9] and are comparable to the ones possessed by the bitcoin blockchain protocol which utilizes proof of work. Furthermore, an incent...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
- CoRR
دوره abs/1601.00275 شماره
صفحات -
تاریخ انتشار 2016