Proof of Stake Beyond Wealth: A Novel Blockchain Consensus Algorithm

Abstract

This research paper addresses the limitations of the Proof of Stake (PoS) consensus mechanism in blockchain technology. Consensus is the foundational element of blockchain, and two of the most widely discussed mechanisms are Proof of Work (PoW) and PoS. While PoS offers advantages over PoW, it also presents significant challenges, notably wealth concentration. This paper investigates these limitations in depth and proposes a novel framework aimed at mitigating these issues. By exploring the dynamics of stake distribution and validator incentives, this study seeks to enhance the security and fairness of PoS systems.