Fork-free hybrid consensus with flexible Proof-of-Activity

Abstract

Abstract Bitcoin and its underlying blockchain mechanism have been attracting much attention. One of their core innovations, Proof-of-Work (PoW), is notoriously inefficient which potentially motivates a centralization of hash power, defeating the original goal of decentralization. Proof-of-Stake (PoS) is later proposed to replace PoW. However, both PoW and PoS have different inherent advantages and disadvantages, so does Proof-of-Activity (PoA) of Bentov et al. (SIGMETRICS 2014) which only offers limited hybrids of two mechanisms. On the other hand, the hybrid consensus protocol of Pass and Shi (DISC 2017) aims to improve the efficiency by dynamically maintaining a rotating committee. Yet, there are unsatisfactory issues including chain forks and fair committee election. In this paper, we firstly devise a generalized variant of PoW. After that, we leverage our generalized PoW to construct a fork-free hybrid consensus protocol. We further combine our fork-free hybrid consensus mechanism with PoS for a flexible version of PoA with tunable parameters between PoW and PoS. Compared with Bentov et al.’s PoA, our “flexible PoA” improves the efficiency, leading to a more applicable consensus protocol.