Physical Sciences and Mathematics Commons^™

Proof-Of-Stake For Spartangold, Nimesh Ashok Doolani

Master's Projects

Consensus protocols are critical for any blockchain technology, and Proof-of- Stake (PoS) protocols have gained popularity due to their advantages over Proof-of- Work (PoW) protocols in terms of scalability and efficiency. However, existing PoS mechanisms, such as delegated and bonded PoS, suffer from security and usability issues. Pure PoS (PPoS) protocols provide a stronger decentralization and offer a potential solution to these problems. Algorand, a well-known cryptocurrency, employs a PPoS protocol that utilizes a new Byzantine Agreement (BA) mechanism for consensus and Verifiable Random Functions (VRFs) to securely scale the protocol to accommodate many participants, making it possible to handle …