Minotaur: Multi-Resource Blockchain Consensus

Matthias Fitzi, Xuechao Wang, Sreeram Kannan, Aggelos Kiayias, Nikos Leonardos, Pramod Viswanath, Gerui Wang

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Resource-based consensus is the backbone of permissionless distributed ledger systems. The security of such protocols relies fundamentally on the level of resources actively engaged in the system. The variety of different resources (and related proof protocols, some times referred to as PoX in the literature) raises the fundamental question whether it is possible to utilize many of them in tandem and build multi-resource consensus protocols. The challenge in combining different resources is to achieve fungibility between them, in the sense that security would hold as long as the cumulative adversarial power across all resources is bounded.
In this work, we put forth Minotaur, a multi-resource blockchain consensus protocol that combines proof of work (PoW) and proofof-stake (PoS), and we prove it optimally fungible. At the core of our design, Minotaur operates in epochs while continuously sampling the active computational power to provide a fair exchange between the two resources, work and stake. Further, we demonstrate the ability of Minotaur to handle a higher degree of work fluctuation as compared to the Bitcoin blockchain; we also generalize Minotaur to any number of resources.
We demonstrate the simplicity of Minotaur via implementing a full stack client in Rust (available open source [25]). We use the client to test the robustness of Minotaur to variable mining power and combined work/stake attacks and demonstrate concrete empirical evidence towards the suitability of Minotaur to serve as the consensus layer of a real-world blockchain.
Original languageEnglish
Title of host publicationProceedings of the 2022 ACM SIGSAC Conference on Computer and Communications Security
PublisherAssociation for Computing Machinery (ACM)
Pages1095-1108
Number of pages17
ISBN (Electronic)978-1-4503-9450-5
DOIs
Publication statusPublished - 7 Nov 2022
EventThe 29th ACM Conference on Computer and Communications Security - Los Angeles, United States
Duration: 7 Nov 202211 Nov 2022
Conference number: 29
https://www.sigsac.org/ccs/CCS2022/home.html

Conference

ConferenceThe 29th ACM Conference on Computer and Communications Security
Abbreviated titleCCS 2022
Country/TerritoryUnited States
CityLos Angeles
Period7/11/2211/11/22
Internet address

Keywords

  • proof-of-work
  • proof-of-stake
  • resource-based blockchain
  • security analysis

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