Proof Of Stake Research Articles

Data-Driven Consensus Protocol Classification Using Machine Learning

The consensus protocol plays a vital role in the performance and security of a specific Distributed Ledger Technology (DLT) solution. Currently, the traditional classification of consensus algorithms relies on subjective criteria, such as protocol families (Proof of Work, Proof of Stake, etc.) or other protocol features. However, such classifications often result in representatives with strongly different characteristics belonging to the same category. To address this challenge, a quantitative data-driven classification methodology that leverages machine learning—specifically, clustering—is introduced here to achieve unbiased grouping of analyzed consensus protocols implemented in various platforms. When different clustering techniques were used on the analyzed DLT dataset, an average consistency of 78% was achieved, while some instances exhibited a match of 100%, and the lowest consistency observed was 55%.

Blockchain and outsourcing for specialised banking communities

This article explores the potential benefits of implementing blockchain technology and outsourcing contracts in the new market participants called specialised banking communities, formed as part of the banking sector reform in Russia. The authors compare this experience to the European model of banks' unions in institutional protection schemes (IPS), highlighting similarities and differences. They emphasize the objective properties of banking communities as subjects of production cooperation in the financial sector. The article also discusses the parameters for implementing a private blockchain network, specifically focusing on the priorities of PoS (Proof of Stake) and DPoS (Delegated Proof of Stake) consensus algorithms. To optimize operational resources, the authors recommend the use of outsourcing contracts for the better distribution of digital production capacities within these communities. Overall, this article highlights the potential of blockchain technology and outsourcing contracts in improving the efficiency and effectiveness of specialised banking communities in Russia.

Crafting Resilient Consensus Mechanisms for The Web3.0 Network Through Edge Intelligence

The era of independent, secure, and scalable networks and applications that Web3.0 promised has arrived. The resilience and reliability of the network are directly tied to the architecture of the consensus mechanisms used in this context. In the paper "Crafting resilient consensus mechanisms for the Web3.0 network through edge intelligence," the authors describe a novel approach to strengthening consensus protocols by leveraging edge computing and artificial intelligence. The primary purpose of this project is to improve Web 3.0 security by implementing consensus methods based on edge intelligence. The goal of this attempt is to reduce the inefficiencies, scalability challenges, and environmental concerns associated with more conventional approaches such as proof-of-work and proof-of-stake. The proposed method combines real-time network research with local transaction verification. This eventually leads to more scalable, secure, and effective consensus procedures, which increases the resilience and greatly decreases the cost of Web3.0 networks.The proposed method recognizes the inefficiencies, lack of scalability, and environmental unfriendliness of standard consensus procedures like the Proof of Work (PoW) and Proof of Stake (PoS) consensus processes. This approach makes use of edge intelligence in real time to assess the state of the network and make appropriate adjustments in response. What emerges is a consensus process that is greener, more scalable, and more successful overall. In addition, we provide the local transaction verification (LTV) technique, which allows edge nodes to validate transactions locally, therefore reducing latency and maximizing transaction efficiency. Our findings demonstrate how edge intelligence might improve Web3.0 consensus processes. Extensive simulations and tests show that the suggested approaches outperform conventional consensus mechanisms in terms of efficiency, security, and scalability. Cost reductions for Web3.0 network operators are also emphasized to emphasize the value of our strategy. Consensus procedures for Web3.0 networks that include edge intelligence provide a viable path toward attaining the required resilience, efficiency, and scalability. This study lays the way for a new age of distributed systems, guaranteeing the resiliency and flexibility essential to the success of Web3.0

The impact of blockchain technology on the environment

This paper focuses on the environmental impact of blockchain technology, particularly on electricity consumption for equipment operation and cooling. During its operation, the device energy is converted into heat, which must be efficiently dispersed. Additionally, the paper examines the rate of mining equipment replacement and the subsequent e-waste concerns. The impact of blockchain technology on the environment is a complex and debated topic. Only the following two aspects are discussed in this paper: 1) Energy Consumption: (a) Positive Impact: Blockchain technology, especially in the context of cryptocurrencies like Bitcoin, has been criticized for its high energy consumption due to the consensus mechanism called Proof of Work (PoW). However, some blockchain networks use alternative consensus mechanisms like Proof of Stake (PoS), which is more energy-efficient, and b) Negative Impact: PoW-based blockchains, such as Bitcoin, require significant computational power, leading to high energy consumption. The environmental impact is a concern, especially if the electricity used comes from non-renewable sources. 2) Mining and E-Waste: (a) Positive Impact: Blockchain technology can help in tracking the supply chain and provenance of minerals, which could reduce the use of conflict minerals and promote ethical mining practices. (b)Negative Impact: The mining of cryptocurrencies involves specialized hardware that becomes obsolete quickly, contributing to electronic waste (e-waste). This can have negative environmental consequences if not properly managed and recycled. The central topic of this paper is electric energy consumption and as a consequence CO2 emission footprint. Because of the fast growth of data centers and mining centers, consumption of electric energy has grown exponentially in the past decade. Together with the consumption of electric energy, CO2 emission grows dramatically.

Towards a Sustainable Future: Enabling Industry with Green Web 3.0, Decentralized AI, and Edge Intelligence

Our world is, at a point in terms of the environment. The fashioned industrial approach, which heavily relies on centralized systems and resource-intensive computing is no longer sustainable. This document delves into a way to embrace Green Web 3.0, Decentralized AI and Edge Intelligence to drive the industry to-ward a more sustainable future. Green Web 3.0 challenges the energy nature of blockchain technology by utilizing eco-friendly protocols such as Proof of Stake which reduces energy consumption and lessens environmental impact. Similarly, Decentralized AI empowers distributed systems decreasing dependence, on data centers and promoting efficient resource utilization. Building on this foundation Edge Intelligence enables real-time decision making and data processing at the source reducing data transfer and optimizing energy efficiency. The combination of these technologies has the potential to revolutionize industries. Picture smart factories adjusting production in real-time supply chains supported by networks and renewable energy networks managed by intelligent edge devices.

Secure-Tech Triad Enhancing Electronic Voting System Security through Integrated Blockchain, AI, and IoT Technologies

As electronic voting systems become increasingly prevalent, the urgent need for robust security measures to combat evolving cyber threats has never been more critical. This paper introduces a ground-breaking architectural framework Secure-Tech Triad that synergistically combines Blockchain technology with Machine Learning (ML) algorithms and Internet of Things (IoT) capabilities to enhance the security and efficiency of electronic voting systems. This architectural framework utilizes a modified Proof-of-Stake (PoS) Blockchain algorithm, a Random Forest ML model for real-time anomaly detection, and an MQTT protocol for IoT-based data collection to create a more secure, efficient, and responsive voting environment. Rigorous testing and evaluation show that the integrated framework significantly outperforms existing Blockchain-only solutions in key performance indicators, such as security breach detection rate, system latency, and cost efficiency. This integrated approach is the best-performing model, achieving a 97% security breach detection rate, a 30% reduction in system latency (down to 2.3 seconds), and a 25% decrease in operational costs. These results underscore the combined effectiveness of Blockchain, AI, and IoT in enhancing security, speed, and cost-effectiveness. Specifically, the Random Forest algorithm has been instrumental in achieving an exceptional security breach detection rate, while IoT data collection has played a pivotal role in enabling real-time anomaly detection and proactive threat mitigation.

DESIGN AND DEVELOPMENT OF EHR SPECIFIC BLOCK CREATION AND POS CUSTOMIZATION USING HIERARCHICAL INTERDEPENDENCY APPROACH

Electronic Health Records (EHR) serve as a pivotal component in leveraging technological capabilities for processing, diagnosis, and informed decision-making in the medical domain. The sharing and endorsement of EHR by medical professionals based on case studies undergo manual procedures, leading to limitations in global accessibility to EHR and resolved case data, impeding expert analysis. In this study, the we propose an exclusive methodology tailored for the establishment and customization of blockchain networks dedicated to EHR applications. The approach centers around a hierarchical interdependency paradigm that governs the fine-tuning of blockchain units and the creation of Proof of Stake (PoS) structures. This technique's calibration is executed within a hospital's private network, ensuring the generalizability of resources within the EHR context. Additionally, the technique introduces deliberate delays in the integration of federated learning models within the blockchain framework, optimizing the alignment of EHR data. Validation of the proposed technique is conducted within the framework of AWS private-public servers, utilizing a dataset sourced from 17 hospitals within the MIMIC-III public EHR dataset. The hierarchical interdependency blockchain is further harmonized with a generalized EHR setup. The study exhaustively deliberates on the outcomes of this setup, demonstrating a discernible enhancement in the performance metrics of EHR blockchains.

AI-Driven Optimization of Proof-of-Stake Blockchain Validators

A number of different industries have been completely transformed as a result of the introduction of blockchain technology, which offers decentralised, secure, and transparent platforms. A number of other consensus techniques have arisen, but Proof-of-Stake (PoS) has become a popular alternative to Proof-of-Work (PoW) owing to the fact that it is both scalable and efficient with regard to energy consumption. While validators are responsible for verifying transactions and establishing new blocks in a proof-of-stake blockchain, they also play an important role in safeguarding the integrity of the network. We begin by doing a review of the present status of proof-of-stake (PoS) consensus mechanisms, focussing on the benefits that these mechanisms provide in comparison to proof-of-work (PoW) techniques, and outlining important problems such as validator selection, stake distribution, and attack resistance. In the next step, we provide AI-driven optimisation strategies that are capable of addressing these difficulties, with a particular emphasis on machine learning algorithms and predictive analytics. One example is the use of reinforcement learning to design techniques for optimum stake distribution among validators. On the other hand, supervised learning models may be used to forecast validator performance as well as possible dangers

BOppCL: Blockchain-Enabled Opportunistic Federated Learning Applied in Intelligent Transportation Systems

In this paper, we present a novel blockchain-enabled approach to opportunistic federated learning (OppCL) for intelligent transportation systems (ITS). Our approach integrates blockchain with OppCL to streamline the learning of autonomous vehicle models while addressing data privacy and trust challenges. We deploy resilient countermeasures, incentivized mechanisms, and a secure gradient distribution to combat single-point failure verification attacks. Additionally, we integrate the Byzantine fault-tolerant algorithm (BFT) into the node verification component of the delegated proof of stake (DPoS) to minimize verification delays. We validate our approach through experiments on the MNIST, SVHN, and CIFAR-10 datasets, showing convergence rates and prediction accuracy comparable to traditional OppCL approaches.

A novel blockchain-based digital forensics framework for preserving evidence and enabling investigation in industrial Internet of Things

To address challenges in digital evidence collection and responsibility determination for industrial safety accidents involving industrial Internet of Things (IIoT) device nodes, this paper proposes a blockchain-based digital forensic scheme within the IIoT communication architecture. The scheme utilizes a decentralized blockchain storage mechanism to enable remote storage of digital forensic data. Additionally, it leverages smart contract mechanisms to facilitate efficient retrieval and tracing of related evidence chains. To enhance data security of IIoT device nodes, a token mechanism is implemented for access control. Moreover, to meet real-time evidence acquisition requirements in IIoT, an efficient batch consensus mechanism is proposed. Experimental simulations demonstrate the superiority of the novel consensus algorithm compared to the traditional Delegated Proof-of-Stake (DPOS) consensus in the proposed scheme for the IIoT environment. It meets speed requirements for evidence collection, ensuring tamper-proof, non-repudiable, and permanent storage of digital forensic data. Consequently, the application of blockchain technology for judicial access and evidence storage has made significant contributions to digital forensics within the IIoT context.

Quantifying the Environmental Impact: A Comparative Analysis of Consensus Algorithms in Blockchain for Carbon Footprint Reduction and Mitigating Climate Change

The rapid rise of blockchain has stirred up a lot of interest lately. It's not just about cryptocurrencies anymore; people are excited about how it could help with big global issues, like climate change. This scientific paper is like a detective story. It's diving deep into the inner workings of consensus algorithms in blockchain systems, the decision-makers of the digital world. To figure out how these algorithms affect the environment, especially their role in carbon footprint, and to see if they're actually doing a good job at helping us deal with climate change. We're focusing on the well-known ones like Proof of Work (PoW), where it's all about computational skills, Proof of Stake (PoS), which puts a spotlight on ownership, and Delegated Proof of Stake (DPoS), a system where only a few get to make the calls. And the emerging consensus mechanisms.

PROOF-OF-STAKE CONSENSUS METHOD FOR UPCOMING BLOCKCHAIN NETWORKS

Currency transaction is a major part that had to be made secured. So rather than making usual currency transactions, there is a secured way of currency transactions by using cryptocurrency which has the concept of blockchain. In today's world, the advancement of cryptocurrency facilitates every individual to make use of cryptocurrency for investing savings and transactions. Hence we can witness the huge number of transactions are occurring per second. Hence it is transforming the way of understanding the currency in a digitalized manner. It invokes interposer to interlope in the particulars of the transactions. To make an ensured transaction, we are using APC cryptocurrency. This APC cryptocurrency transaction is made protected with the support of blockchain so that every user utilizing the APC for their transactions, can be more confident in doing their currency operations. The biggest demand of every user is securing their transaction details regarding the usage of cryptocurrency. Therefore, by using the hashing algorithm we are converting the values of the user’s transactions details into hash values. The transaction details are validated using a validator and the validations are fact-checked by the administration, with the implementation of the modal concept of “proof of stake”.

Pool competition and centralization in PoS blockchain network

ABSTRACT In Proof-of-Stake (PoS) blockchain network, stakeholders spend tokens for consumption while competing for network transaction fee with unspent tokens. Stakeholders are incentivized to form staking pools to compete with each other, but continued staking pool merge does not occur given fixed pool operating cost. Unlike other blockchain networks and traditional payment systems, token price in PoS blockchain network is a direct result of competition among service providers (staking pools) and is strongly positively correlated with network decentralization level. As an extension, we show that uneven wealth distribution or biased validator selection function enhances stake centralization and sabotage token price.

Examining the Volatility of Conventional Cryptocurrencies and Sustainable Cryptocurrency during Covid-19: Based on Energy Consumption

The present study proposes to investigate the influence of the covid-19, on the adjusted closing price of the digital currency based on energy consumption during the process of mining. The study employed the secondary data analysis of top ten market capitalization of cryptocurrencies with the combination of high energy consume mechanism (proof of work) and low energy consume mechanism (proof of stake). Statistical tools like Descriptive analysis,Augmented Dickey-Fuller (ADF) test, ARCH, and GARCH models were used in the study. The present study finds that the prices of cryptocurrencies were highly volatile. This study could assist investors towards better understanding of the dynamics of the cryptocurrency market based on energy consumption which helps them to make more effective decisions, on investing cryptocurrencies with a scientific approach.

An Exploration of Blockchain Protocols for Trusted Vote Aggregation: A Consensus Algorithm Approach

The application of blockchain technology in electronic voting (e-voting) systems represents a promising solution to the perennial challenges of trust, transparency, and security in electoral processes. This study aims to identify a suitable blockchain protocol that supports trustworthy vote aggregation and has a suitable consensus algorithm to validate vote counting. Our research methodology includes an extensive literature review and a comparative analysis of different blockchain protocols. Considering this, we examine various consensus algorithms such as Proof of Work, Proof of Stake, and Practical Byzantine Fault Tolerance among others, each of which presents unique strengths and challenges. In addition, this study enriches the existing body of knowledge by proposing a novel algorithm that works at the edge of the network to validate and aggregate votes on the blockchain. This newly proposed algorithm is designed to provide maximum security, reliability, and accuracy while minimizing computational resources and network overhead. Our comprehensive research and innovative proposal serve to strengthen the potential of blockchain protocols and their consensus algorithms in the field of electronic voting systems. The results of this research could significantly influence the development and implementation of secure, transparent, and reliable e-voting systems based on blockchain technology, paving the way for more democratic and accountable voting mechanisms.

A research on the consensus mechanisms

A distributed and decentralized ledger widely used in the computer science and financial fields called blockchain has provided safe and fast transactions for multiple parties. Also, check the transaction by each node on the blockchain. The consensus mechanism is the core of the blockchain. It lets all the nodes reach an agreement for those transactions, which ensures security and accuracy and make Bitcoin valuable and popular. Two of the most mainstream Consensus mechanisms are Proof of Work (PoW) and Proof of Stake (PoS), and Proof of Authority (PoA) is the new one that will apply in the future. Many discourses talk about consensus mechanisms, most of which are review papers. Those papers mainly show a specific aspect of a consensus mechanism or introduce the primary notion, but they rarely explain the corresponding relationship between theories and cryptocurrency. So, the purpose is to give a clear structure, connect the consensus mechanism to its application and simplify the reader's understanding. This paper aims to provide an overview of the consensus mechanism, including its general definition, concepts of different mechanism variants, and advantages and disadvantages. For the structure below, the essay introduces the notion of consensus mechanism and how PoW, PoS, and PoA work. Then summarize the papers based on these three consensus mechanisms, describing the theories of many consensus mechanisms and comparing the advantages and disadvantages. The essay also creates a comparison table about these three consensus mechanisms to embody the content above the stem better.

Blockchain PoS and PoW Consensus Algorithms for Airspace Management Application to the UAS-S4 Ehécatl

This paper introduces an innovative consensus algorithm for managing Unmanned Aircraft System Traffic (UTM) through blockchain technology, a highly secure consensus protocol, to allocate airspace. A smart contract was developed on the Ethereum blockchain for allocating airspace. This technique enables the division of the swarm flight zone into smaller sectors to decrease the computational complexity of the algorithm. A decentralized voting system was established within these segmented flight zones, utilizing two primary methodologies: Proof of Work (PoW) and Proof of Stake (PoS). By employing 1000 UAS-S4s across various locations and heading angles, a swarm flight zone was generated. The efficiency of the devised decentralized consensus system was assessed based on error rate and validation time. Despite PoS displaying greater efficiency in cumulative probability for block execution, the comparative analysis indicated PoW outperformed PoS concerning the potential for conflicts among UASs.

From Decentralization to Oligopoly: A Data-Driven Analysis of Decentralization Evolution and Voting Behaviors on EOSIO

As one of the most popular blockchain systems, EOSIO has been widely used in decentralized applications (DApps). Compared with traditional proof-of-work (PoW)-based blockchain systems like Bitcoin, EOSIO achieves a high transaction throughput and an alleged decentralization with the Delegated Proof-of-Stake (DPoS) consensus protocol. However, recent reports claimed the existence of voting collusion and manipulation during the DPoS consensus procedure of EOSIO, which may greatly decline the decentralization degree, fault tolerance, and reliability of the whole system. In this article, we obtain data from up to 135 000 000 blocks of EOSIO and conduct a data-driven decentralization analysis. Specifically, we characterize the decentralization evolution of the two phases in DPoS, namely block producer election and block production. Moreover, we study the voters with similar voting behaviors and propose methods to discover abnormal mutual voting behaviors in EOSIO. The analysis results show how EOSIO gradually evolves from decentralization to oligopoly and our methods can effectively capture abnormal voting phenomena in the EOSIO, which can also provide important insights for the design and maintenance of other DPoS-based blockchains.

Post-Merge Carbon Footprint Analysis and Sustainability in the NFT Art Market

The market for non-fungible token (NFT) art is expected to reach USD 44.2 billion in 2021 and increase by 67.57 percent in 2022, revolutionizing the relationship between artists, collectors, and investors. Despite this, concerns regarding the environmental impact of blockchain technology’s high energy consumption persist. NFT art transactions will continue to generate significant carbon emissions after Ethereum’s “Merge” to a Proof-of-Stake (PoS) system in September 2022, rendering many low-carbon solutions obsolete and necessitating further research into post-Merge alternatives. This study identifies solutions in the NFT art market, such as carbon neutrality, lazy minting, alternative consensus mechanisms, Layer 2 solutions and policy interventions. Carbon neutrality is achieved through investments in renewable energy or carbon credits to mitigate emissions generated by NFT art transactions. Lazy minting reduces energy consumption by postponing the creation of NFT art until a buyer is secured. In the NFT art ecosystem, alternative consensus mechanisms such as Proof of Authority (PoA) and Proof of Spacetime (PoST) reduce energy consumption. By offloading transactions from the primary blockchain, Layer 2 solutions enhance scalability and reduce energy consumption. Carbon taxes and energy consumption levies are examples of policy interventions that promote cleaner energy sources in the NFT art market. This study will explore the role of artists, collectors, galleries, and other significant players in encouraging environmentally sustainable practices in the NFT art market. In addition, it will investigate the effect of prominent NFT art sales on carbon emissions and the adoption of eco-friendly alternatives. By integrating and optimizing current carbon reduction strategies, the NFT art market can continue to flourish while reducing its environmental impact. The study emphasizes the significance of implementing a comprehensive strategy that incorporates multiple solutions that are tailored to the specific challenges of the NFT art market.

Comparison on Proof of Work Versus Proof of Stake and Analysis on Why Ethereum Converted to Proof of Stake

As approaching the era of Ethereum 2.0, the already unique and innovative cryptocurrency will witness a game-changing upgrade, and in this context, there is a lively discussion of the Proof of Work (PoW) and Proof of Stake (PoS) consensus mechanism. Moving from a PoW consensus mechanism to a PoS consensus mechanism is one of the most anticipated changes in this update. A close comparison of the two most popular consensus mechanisms, PoW and PoS, provides some strengths and drawbacks to these mechanisms. This comparison then becomes the building block to identifying the reasons behind Ethereum's upgrade to Proof of Stake. With the help of the comparison, this paper identifies a few drawbacks of the PoW consensus mechanism that Ethereum is currently facing. This paper finds that Ethereum's shift to PoS has indeed reduced the drawbacks of the Proof of Work consensus mechanism, mainly in terms of energy consumption, transaction cost, and confirmation speed.