GPE-PoS: A Fair and Sybil-Resistant Proof of Stake Consensus

Abstract

Consensus mechanisms are algorithms that ensure the security and stability of blockchain networks by achieving agreement and verifying transaction integrity. Proof of Stake (PoS) stands as a widely acknowledged consensus algorithm, wherein the privilege to validate transactions is predicated upon participants’ stakes. However, long-term use of PoS may lead to wealth concentration among certain nodes, potentially undermining the network’s fairness and security. Therefore, we propose the Group-Polynomial-based Election Proof of Stake (GPE-PoS) consensus mechanism. GPE-PoS involves categorizing nodes, calculating polynomial values for each group, encrypting these values using Paillier encryption, and then allocating validation rights based on comparisons of polynomial values based on polynomial value comparisons to enhance system fairness. The fairness of the system is further fortified against Sybil attacks, which undermine its security and fairness, through the incorporation of digital certificates within GPE-PoS, thereby verifying participant identities. Simulation results confirm that GPE-PoS successfully maintains fairness and security in blockchain systems.