TwinsCoin

Abstract

We design and implement TwinsCoin, the first cryptocurrency based on a provably secure and scalable public blockchain design using both proof-of-work and proof-of-stake mechanisms. Different from the proof-of-work based Bitcoin, our construction uses two types of resources, computing power and coins (i.e., stake). The blockchain in our system is more robust than that in a pure proof-of-work based system; even if the adversary controls the majority of mining power, we can still have the chance to secure the system by relying on honest stake. In contrast, Bitcoin blockchain will be insecure if the adversary controls more than 50% of mining power.