Improvement Scheme for the Proof of Stake Consensus of Blockchain Incentive Mechanism

Abstract

To solve the problem of unreasonable distribution of PoS block rewards, a proof of stake based on incentive (Incentive-PoS)consensus algorithm was proposed. Firstly, the research problem was described. A PoS determined that nodes with more coins have a greater chance of obtaining accounting rights, and the block reward was exclusively owned by the block producer. Secondly, in order to solve the problem of reward distribution, a PoS consensus algorithm based on incentive mechanism was proposed, Shapley′s principle in game theory was uesd to redistribute block rewards. Nodes with high credibility and active participation in consensus would receive dividends, and made small nodes more likely to obtain benefits. Finally, the simulation experiment and result analysis of the improved algorithm were carried out. Compared with the original algorithm, the improved scheme had a more reasonable performance in the distribution of income, and increased the number of nodes receiving dividends, reduced the gap between the rich and the poor, and improved the enthusiasm of consensus. And the throughput, latency, and security were significantly improved. It was beneficial to improve the stratification phenomenon caused by the excessive wealth gap in the blockchain, and could further promote the healthy operation and development of the blockchain network.