A Unifying Hybrid Consensus Protocol

Abstract

We introduce Unity, a new consensus algorithm for public blockchain settings. Unity is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It encompasses hardware and economic security without sacrificing availability, unpredictability and decentralization. Empirical results indicate that the proposed protocol is fair and scalable to an arbitrary number of miners and stakers.