ProPoS: A Probabilistic Proof-of-Stake Protocol

06/02/2020

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by   Daniel Reijsbergen, et al.

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We present ProPoS, a Proof-of-Stake protocol dedicated, but not limited, to cryptocurrencies. ProPoS is a chain-based protocol that minimizes interactions between nodes through lightweight committee voting, resulting in a more simple, robust, and scalable proposal than competing systems. It also mitigates other drawbacks of previous systems, such as high reward variance and long confirmation times. ProPoS can support large node numbers by design, and provides probabilistic safety guarantees whereby a client makes commit decisions by calculating the probability that a transaction is reverted based on its blockchain view. We present a thorough analysis of ProPoS and report on its implementation and evaluation. Furthermore, our new technique of proving safety can be applied more broadly to other Proof-of-Stake protocols.