Paper Abstract and Keywords |
Presentation |
2020-03-05 11:20
Effects of Coin Age on Centralization of Proof-of-Stake Blockchains Shu Takayama, Ryunosuke Nagayama, Kai Otsuki, Kazuyuki Shudo (Tokyo Tech) NS2019-207 |
Abstract |
(in Japanese) |
(See Japanese page) |
(in English) |
Proof-of-Stake is a type of consensus protocol used in blockchain technology. Peercoin is the first cryptocurrency with Proof-of-Stake, the protocol of which has a concept termed coin age. Coin age is a parameter of an Unspent Transaction Output (UTXO), which is the product of its amount and its age. On the other hand, the concept of coin age has been removed from Proof-of-Stake 3.0 used in Blackcoin v1.2. We are concerned about the possibility that the change of the protocol reinforces the centralization of the mining network. Thus we performed simulation experiments. As a result, we concluded that Proof-of-Stake 3.0 reinforces the centralization of the mining network because it motivates miners having a large amount of money to optimize their staking strategy. |
Keyword |
(in Japanese) |
(See Japanese page) |
(in English) |
Cryptocurrency / Blockchain / Proof-of-Stake / Peercoin / Blackcoin / SimBlock / / |
Reference Info. |
IEICE Tech. Rep., vol. 119, no. 460, NS2019-207, pp. 175-178, March 2020. |
Paper # |
NS2019-207 |
Date of Issue |
2020-02-27 (NS) |
ISSN |
Online edition: ISSN 2432-6380 |
Copyright and reproduction |
All rights are reserved and no part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher. Notwithstanding, instructors are permitted to photocopy isolated articles for noncommercial classroom use without fee. (License No.: 10GA0019/12GB0052/13GB0056/17GB0034/18GB0034) |
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NS2019-207 |
Conference Information |
Committee |
NS IN |
Conference Date |
2020-03-05 - 2020-03-06 |
Place (in Japanese) |
(See Japanese page) |
Place (in English) |
Royal Hotel Okinawa Zanpa-Misaki |
Topics (in Japanese) |
(See Japanese page) |
Topics (in English) |
General |
Paper Information |
Registration To |
NS |
Conference Code |
2020-03-NS-IN |
Language |
Japanese |
Title (in Japanese) |
(See Japanese page) |
Sub Title (in Japanese) |
(See Japanese page) |
Title (in English) |
Effects of Coin Age on Centralization of Proof-of-Stake Blockchains |
Sub Title (in English) |
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Keyword(1) |
Cryptocurrency |
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Blockchain |
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Proof-of-Stake |
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Peercoin |
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Blackcoin |
Keyword(6) |
SimBlock |
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1st Author's Name |
Shu Takayama |
1st Author's Affiliation |
Tokyo Institute of Technology (Tokyo Tech) |
2nd Author's Name |
Ryunosuke Nagayama |
2nd Author's Affiliation |
Tokyo Institute of Technology (Tokyo Tech) |
3rd Author's Name |
Kai Otsuki |
3rd Author's Affiliation |
Tokyo Institute of Technology (Tokyo Tech) |
4th Author's Name |
Kazuyuki Shudo |
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Tokyo Institute of Technology (Tokyo Tech) |
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Speaker |
Author-1 |
Date Time |
2020-03-05 11:20:00 |
Presentation Time |
20 minutes |
Registration for |
NS |
Paper # |
NS2019-207 |
Volume (vol) |
vol.119 |
Number (no) |
no.460 |
Page |
pp.175-178 |
#Pages |
4 |
Date of Issue |
2020-02-27 (NS) |
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