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2017 | OriginalPaper | Buchkapitel

Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol

verfasst von : Aggelos Kiayias, Alexander Russell, Bernardo David, Roman Oliynykov

Erschienen in: Advances in Cryptology – CRYPTO 2017

Verlag: Springer International Publishing

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Abstract

We present “Ouroboros”, the first blockchain protocol based on proof of stake with rigorous security guarantees. We establish security properties for the protocol comparable to those achieved by the bitcoin blockchain protocol. As the protocol provides a “proof of stake” blockchain discipline, it offers qualitative efficiency advantages over blockchains based on proof of physical resources (e.g., proof of work). We also present a novel reward mechanism for incentivizing Proof of Stake protocols and we prove that, given this mechanism, honest behavior is an approximate Nash equilibrium, thus neutralizing attacks such as selfish mining.

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Fußnoten
1
See “Proof of stake instead of proof of work”, Bitcoin forum thread. Posts by user “QuantumMechanic” and others. (https://​bitcointalk.​org/​index.​php?​topic=​27787.​0.).
 
2
A non-exhaustive list includes NXT, Neucoin, Blackcoin, Tendermint, Bitshares.
 
3
Nakamoto’s simplifications are pointed out in [12]: the analysis considers only the setting where a block withholding attacker acts without interaction as opposed to a more general attacker that, for instance, tries strategically to split the honest parties in more than one chains during the course of the double spending attack.
 
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Metadaten
Titel
Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol
verfasst von
Aggelos Kiayias
Alexander Russell
Bernardo David
Roman Oliynykov
Copyright-Jahr
2017
DOI
https://doi.org/10.1007/978-3-319-63688-7_12