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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.
Original language | English |
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Title of host publication | Advances in Cryptology -- CRYPTO 2017 |
Editors | Jonathan Katz, Hovav Shacham |
Place of Publication | Cham |
Publisher | Springer |
Pages | 357-388 |
Number of pages | 32 |
ISBN (Electronic) | 978-3-319-63688-7 |
ISBN (Print) | 978-3-319-63687-0 |
DOIs | |
Publication status | Published - 29 Jul 2017 |
Event | CRYPTO 2017: 37th Annual International Cryptology Conference - University of California, Santa Barbara, Santa Barbara, United States Duration: 20 Aug 2016 → 24 Aug 2017 https://www.iacr.org/conferences/crypto2017/ https://www.iacr.org/conferences/crypto2017/ |
Publication series
Name | Lecture Notes in Computer Science |
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Publisher | Springer, Cham |
Volume | 10401 |
ISSN (Print) | 0302-9743 |
ISSN (Electronic) | 1611-3349 |
Conference
Conference | CRYPTO 2017 |
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Abbreviated title | CRYPTO 2017 |
Country/Territory | United States |
City | Santa Barbara |
Period | 20/08/16 → 24/08/17 |
Internet address |
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Dive into the research topics of 'Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol'. Together they form a unique fingerprint.Projects
- 1 Finished
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Panoramix:Privacy and Accountability in Networks via Optimized Randomized Mix-nets
1/09/15 → 31/01/19
Project: Research
Profiles
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Aggelos Kiayias
- School of Informatics - Chair in Cyber Security and Privacy
- Laboratory for Foundations of Computer Science
- Foundations of Computation
Person: Academic: Research Active