Proof-of-Stake Longest Chain Protocols: Security vs Predictability
Proof-of-Stake Longest Chain Protocols: Security vs Predictability
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DOI:
10.1145/3560829.3563559
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发表时间:
2019-10
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影响因子:
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通讯作者:
V. Bagaria;A. Dembo;Sreeram Kannan;Sewoong Oh;David Tse;P. Viswanath;Xuechao Wang;O. Zeitouni
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文献类型:
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作者:
V. Bagaria;A. Dembo;Sreeram Kannan;Sewoong Oh;David Tse;P. Viswanath;Xuechao Wang;O. Zeitouni
The Nakamoto longest chain protocol is remarkably simple and has been proven to provide security against any adversary with less than 50% of the total hashing power. Proof-of-stake (PoS) protocols are an energy efficient alternative; however existing protocols adopting Nakamoto's longest chain design achieve provable security only by allowing long-term predictability, subjecting the system to serious bribery attacks. In this paper, we prove that a natural longest chain PoS protocol with similar predictability as Nakamoto's PoW protocol can achieve security against any adversary with less than 1/(1+e) fraction of the total stake. Moreover we propose a new family of longest chain PoS protocols with a formal proof of their security against a 50% adversary, while only requiring short-term predictability.