A Provably Secure Proof-of-Stake Blockchain Protocol

Aggelos Kiayias
Ioannis Konstantinou
Alexander Russell
Bernardo David
Roman Oliynykov
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 incentive mechanism for the protocol is also proposed.

Metadata

Year 2016
Peer Reviewed not_interested
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