Paper 2014/452

Proof of Activity: Extending Bitcoin’s Proof of Work via Proof of Stake

Iddo Bentov, Charles Lee, Alex Mizrahi, and Meni Rosenfeld

Abstract

We propose a new protocol for a cryptocurrency, that builds upon the Bitcoin protocol by combining its Proof of Work component with a Proof of Stake type of system. Our Proof of Activity (PoA) protocol offers good security against possibly practical future attacks on Bitcoin, and has a relatively low penalty in terms of network communication and storage space. We explore various attack scenarios and suggest remedies to potential vulnerabilities of the PoA protocol, as well as evaluate the performance of its core subroutine.

Metadata
Available format(s)
PDF
Category
Cryptographic protocols
Publication info
Published elsewhere. MAJOR revision.NetEcon 2014
Keywords
BitcoinProof of WorkProof of Stakecryptocurrency
Contact author(s)
idddo @ cs technion ac il
History
2014-06-15: received
Short URL
https://ia.cr/2014/452
License
Creative Commons Attribution
CC BY

BibTeX

@misc{cryptoeprint:2014/452,
      author = {Iddo Bentov and Charles Lee and Alex Mizrahi and Meni Rosenfeld},
      title = {Proof of Activity: Extending Bitcoin’s Proof of Work via Proof of Stake},
      howpublished = {Cryptology ePrint Archive, Paper 2014/452},
      year = {2014},
      note = {\url{https://eprint.iacr.org/2014/452}},
      url = {https://eprint.iacr.org/2014/452}
}
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