Improving Voting of Block Producers for Delegated Proof-of-Stake with Quadratic Delegate

Abstract

DPoS is a consensus algorithm designed to address scalability and speed issues in PoS. It achieves this by predefining a maximum number of validators who participate in block generation while delegating stakes and sharing block rewards. However, DPoS has faced security vulnerabilities, where Block Producers can manipulate votes through fraud, bribery, and lack of community communication. While there has been research on the centralization resulting from DPoS voting, there has been limited discussion on the voting coefficient. In this paper, we propose a model that reduces the influence of wealthy individuals and gathers community opinions by adjusting the voting coefficient using quadratic delegates. We apply this model to EOS's Block Producer voting and demonstrate a significant reduction in the influence of the wealthy few, while ensuring the community's preferences are reflected. These findings contribute to protecting DPoS elections from security threats and encouraging decentralized voting participation by users.