A generic compiler transforms any permissioned consensus protocol into a proof-of-stake permissionless protocol with the same fault tolerance, plus accountability.
Cryptocurrencies without Proof of Work
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abstract
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. 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 they help in mitigating problems that the existing protocols exhibit.
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cs.CR 1years
2025 1verdicts
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From Permissioned to Proof-of-Stake Consensus
A generic compiler transforms any permissioned consensus protocol into a proof-of-stake permissionless protocol with the same fault tolerance, plus accountability.