Abstract
The implementations for decentralized consensus within Distributed Ledger Technologies (DLTs) are varied and many, but Blockchain, the underpinning technology underneath Bitcoin has witnessed revolutionary use case success. Although blockchain emerged in the Internet commerce sector as an immutable and decentralized ledger system, it can now be seen as a framework for autonomous decentralized data processing which enforces a flat and open-access network. The primary security threat in Blockchain would be a compromise or fallacy in the Consensus mechanism. The Proof of concept (PoX) approach used in Blockchains has elegantly emulated the leader-election function required in a Byzantine Fault Tolerant (BFT) protocol to simulate the block proposal process. Proof of work (PoW), the consensus mechanism that the Bitcoin protocol employed paved the way for blockchain as a viable DLT for commerce on the internet. Many “alt-coins” subsequently came up, however PoW has saturated with the explosion of popularity of the crypto currency and other alt-coins have achieved sub-optimal solutions. There is the looming “51% attack” for resource pricing algorithms and various other attacks such as Bribe attacks, Sybil attacks and the Nothing-at-stake attack for the other alternate consensus mechanisms. The novel PoStack algorithm is a gamification of the node mining process, which enforces a simple notion: a node’s chance of mining crypto currency is proportional to its belief in a node that no one else believes in. The protocol has modest computational and financial needs, which reduces the barrier to entry.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bitfury: Proof of Stake versus Proof of Work (2015), (White paper). https://bitfury.com/content/downloads/pos-vs-pow-1.0.2.pdf
Jakobsson, M., Juels, A.: Proofs of work and bread pudding protocols (extended abstract). In: Preneel, B. (ed.) Secure Information Networks. ITIFIP, vol. 23, pp. 258–272. Springer, Boston, MA (1999). https://doi.org/10.1007/978-0-387-35568-9_18
Kiayias, A., Konstantinou, I., Russell, A., David, B., Oliynykov, R.: A provably secure proof-of-stake blockchain protocol. IACR Cryptology ePrint Archive 2016, 889 (2016)
King, S., Nadal, S.: Ppcoin: Peer-to-peer crypto-currency with proof-of-stake. self-published paper, 19 August 2012
Lamport, L.: The part-time parliament. ACM Trans. Comput. Syst. (TOCS) 16(2), 133–169 (1998)
Lamport, L., Shostak, R., Pease, M.: The byzantine generals problem. ACM Trans. Program. Lang. Syst. (TOPLAS) 4(3), 382–401 (1982)
Nakamoto, S.: Bitcoin: a peer-to-peer electronic cash system (2008)
Ongaro, D., Ousterhout, J.K.: In search of an understandable consensus algorithm. In: USENIX Annual Technical Conference, pp. 305–319 (2014)
p4titan: Slimcoin.org A Peer-to-Peer Crypto-Currency with Proof-of-Burn “Mining without Powerful Hardware” (2014), (White paper). https://github.com/slimcoin-project/slimcoin-project.github.io/raw/master/whitepaperSLM.pdf
Seibold, S., Samman, G.: Consensus: immutable agreement for the internet of value. KPMG (2016). https://assets.kpmg.com/content/dam/kpmg/pdf/2016/06/kpmgblockchain-consensus-mechanism.pdf
Wang, W., et al.: A survey on consensus mechanisms and mining management in blockchain networks. arXiv preprint arXiv:1805.02707 (2018)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer Nature Singapore Pte Ltd.
About this paper
Cite this paper
Barhanpure, A., Belandor, P., Das, B. (2019). Proof of Stack Consensus for Blockchain Networks. In: Thampi, S., Madria, S., Wang, G., Rawat, D., Alcaraz Calero, J. (eds) Security in Computing and Communications. SSCC 2018. Communications in Computer and Information Science, vol 969. Springer, Singapore. https://doi.org/10.1007/978-981-13-5826-5_8
Download citation
DOI: https://doi.org/10.1007/978-981-13-5826-5_8
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-13-5825-8
Online ISBN: 978-981-13-5826-5
eBook Packages: Computer ScienceComputer Science (R0)