Abstract
The Proof-of-Stake (PoS) protocol is booming in blockchain networks because of excessive energy consumption and slow block generation associated with the Proof-of-Work (PoW) protocol. In terms of transaction settlement, does the PoS protocol perform better than PoW? We build a transaction settlement model based on the PoS blockchain, describing how the staking income and costs affect settlement performance, and put forward a Successful Settlement Factor (SSF) to determine whether the settlement will be successful given the block size and block time. In addition, the system developers can adjust block size and block time according to SSF to achieve the best settlement performance. Finally, using historical data for a real-world blockchain network, our model demonstrates that the optimal block time, average settlement time, average settlement fees, and total settlement lag of the PoS blockchain are 23.41%, 23.29%, 23.23%, 23.31%, respectively, less than that of the PoW blockchain.
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