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Fair Proof-of-Stake using VDF+VRF Consensus

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arxiv 2008.10189 v2 pith:YHGLZSKW submitted 2020-08-24 cs.CR

classification cs.CR
keywords attacksconsensusfairfunctionproof-of-stakestakeverifiableaddresses
verification ladder T0 review T1 audit T2 compute T3 formal
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We propose a new Proof-of-Stake consensus protocol constructed with a verifiable random function (VRF) and a verifiable delay function (VDF) that has the following properties: a) all addresses with positive stake can participate; b) is fair because the coin stake is proportional to the distribution of rewards; c) is resistant to several classic blockchain attacks such as Sybil attacks, "Nothing-at-stake" attacks and "Winner-takes-all" attacks. We call it Vixify Consensus.

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