Proof of Stake and Activity: Rewarding On-Chain Activity Through Consensus

Aram Jivanyan; Karen Terjanian

Paper 2024/734

Proof of Stake and Activity: Rewarding On-Chain Activity Through Consensus

Aram Jivanyan, Yerevan State University

Karen Terjanian, Fastex

Abstract

We are introducing a novel consensus protocol for blockchain, called Proof of Stake and Activity (PoSA) which can augment the traditional Proof of Stake methods by integrating a unique Proof of Activity system. PoSA offers a compelling economic model that promotes decentralization by rewarding validators based on their staked capital and also the business value they contribute to the chain. This protocol has been implemented already into a fully-fledged blockchain platform called Bahamut (www.bahamut.io) which boasts hundreds of thousands of active users already.

Metadata

Available format(s): PDF
Category: Cryptographic protocols
Publication info: Published elsewhere. 2nd International Conference on Big Data and Privacy Computing, IEEE - BDPC 2024,
Keywords: Proof of Stake and Activity PoSA Proof of Stake Consensus Protocols
Contact author(s): jivanyan @ gmail com
karen @ fastex com
History: 2024-05-16: approved; 2024-05-13: received; See all versions
Short URL: https://ia.cr/2024/734
License: CC BY

BibTeX

@misc{cryptoeprint:2024/734,
      author = {Aram Jivanyan and Karen Terjanian},
      title = {Proof of Stake and Activity: Rewarding On-Chain Activity Through Consensus},
      howpublished = {Cryptology ePrint Archive, Paper 2024/734},
      year = {2024},
      note = {\url{https://eprint.iacr.org/2024/734}},
      url = {https://eprint.iacr.org/2024/734}
}