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A Scalable and Secure Consensus Scheme Based on Proof of Stake in Blockchain

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Blockchain and Trustworthy Systems (BlockSys 2021)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 1490))

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Abstract

As a decentralized database, the public blockchain has broad application prospects in many fields such as finance, healthcare, and supply chain, so it is getting more and more attention. The current mainstream public blockchain protocol based on Proof of Work (PoW) cannot be applied to various extendable application scenarios with performance requirements due to performance bottlenecks. Proof of Stake (PoS) circumvents the performance bottleneck of PoW by utilizing equity instead of computing power. However, ordinary PoS protocols still have security problems for they are vulnerable to nothing-at-stake attacks, and rely on third parties to support dynamic availability. In this paper, we propose a novel scalable and secure PoS consensus scheme to support the application of public blockchain in various extendable scenarios. We classify nodes in different states and perform node state transitions through different protocols. Combining stake mechanism with consensus schemes and using dynamic stake proportion table to support dynamic stake scenario, we propose a block compression method to reduce the communication consumption of consensus. We propose a chain selection rule based on Verifiable Random Function (VRF) nonce and longest chain rule, which supports dynamic availability without third parties. In addition, we prove the security of our scheme and analyze its performance at general security threats. Finally, experimental results show that our scheme have better system performance and better scalability under the same condition.

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Acknowledgments

This work is supported by the National Key Research and Development Program of China (2020YFB1807500), in part by Guangdong Basic and Applied Basic Research Foundation (2020A1515110496, 2020A1515110079).

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Correspondence to Jie Yin .

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Zhu, F., Yin, J., Liu, L., Feng, J., Wang, Z. (2021). A Scalable and Secure Consensus Scheme Based on Proof of Stake in Blockchain. In: Dai, HN., Liu, X., Luo, D.X., Xiao, J., Chen, X. (eds) Blockchain and Trustworthy Systems. BlockSys 2021. Communications in Computer and Information Science, vol 1490. Springer, Singapore. https://doi.org/10.1007/978-981-16-7993-3_22

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  • DOI: https://doi.org/10.1007/978-981-16-7993-3_22

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