Paper 2023/373 Original: eprint.iacr.org/2023/373 ↗
Consensus Algorithm Using Transaction History for Cryptocurrency
Abstract
Blockchain consensus algorithms for cryptocurrency consist of the proof of work and proof of stake. However, current algorithms have problems, such as huge power consumption and equality issues. We propose a new consensus algorithm that uses transaction history. This algorithm ensures equality by randomly assigning approval votes based on past transaction records. We also incorporate a mechanism for adjusting issuance volume to measure the stability of the currency's value.
Metadata
- Available format(s)
PDF- Category
- Cryptographic protocols
- Publication info
- Preprint.
- History
- 2023-03-15: last updated
- 2023-03-15: published
- Short URL
- https://ia.cr/2023/373
- License
- https://creativecommons.org/licenses/by/4.0/
BibTeX
@misc{cryptoeprint:2023/373,
author = {Yuuki Komi and Takayuki Tatekawa},
title = {Consensus Algorithm Using Transaction History for Cryptocurrency},
howpublished = {Cryptology {ePrint} Archive, Paper 2023/373},
year = {2023},
url = {https://eprint.iacr.org/2023/373}
}