Research on proof of stake consensus algorithm based on dynamic trust

Abstract

Blockchain is a decentralized and tamper-proof distributed ledger technology. The consensus algorithm is one of the key technologies underlying blockchain. The Proof of Stake (PoS) consensus mechanism determines the next block producer on the blockchain based on the user's staked equity. Compared to Proof of Work (PoW), the Proof of Stake consensus mechanism solves the problem of wasted resources. However, the PoS consensus mechanism faces serious issues such as the coin age accumulation attack and the zero-cost benefit problem. Therefore, this paper proposes a Trust-Based Proof of Stake (TPoS) mechanism based on dynamic trustworthiness. TPoS divides nodes in the network into miner nodes and basic equity representative (shareholder) nodes, and assigns corresponding trustworthiness to nodes based on their participation in creating blocks. Shareholder nodes sign blocks and assign them trustworthiness, and finally compete for the weight of trustworthiness obtained by blocks to go on the chain. In addition, this paper analyzes the attack cost and system response to bribery attacks and common equity accumulation attacks. The results of simulation experiments show that the TPoS mechanism has significant advantages over traditional Proof of Stake mechanisms in dealing with bribery attacks and equity accumulation attacks.