Research Article
Comparing Proof-of-Stake and Proof-of-Work Resource Consumption and Proof-of-Stake Improvements
@INPROCEEDINGS{10.4108/eai.17-6-2022.2322749, author={Huirou Ma}, title={Comparing Proof-of-Stake and Proof-of-Work Resource Consumption and Proof-of-Stake Improvements }, proceedings={Proceedings of the International Conference on Information Economy, Data Modeling and Cloud Computing, ICIDC 2022, 17-19 June 2022, Qingdao, China}, publisher={EAI}, proceedings_a={ICIDC}, year={2022}, month={10}, keywords={blockchain proof-of-work proof-of-stake dpos}, doi={10.4108/eai.17-6-2022.2322749} }- Huirou Ma
Year: 2022
Comparing Proof-of-Stake and Proof-of-Work Resource Consumption and Proof-of-Stake Improvements
ICIDC
EAI
DOI: 10.4108/eai.17-6-2022.2322749
Abstract
Consensus algorithms are getting more and more attention. It can help the majority of nodes in the blockchain to agree on the determination of new blocks. Proof-of-Work is a relatively mature consensus algorithm, which plays an important role in improving the security of Bitcoin. In addition, Proof-of-Stake is also a trending consensus algorithm. There have been many variants of Proof-of-Stake, and the direction of improvement still needs to be explored. Here, this paper reports the principle of the SHA256 one-way hash function often used in consensus algorithms, the core principle of Proof-of-Work, the core principle of Proof-of-Stake and its various variants such as Proof-of-Stake combined with Proof-of-Work and DPOS. At the same time, this paper simulates the mechanism of Proof-of-Work and Proof-of-Stake combined with Proof-of-Work to generate new blocks. The experiments in this paper show that Proof-of-Stake combined with Proof-of-Work reduces resource consumption compared to Proof-of-Work, and in Proof-of-Stake combined with Proof-of-Work, investing more coinages can help nodes get new blocks. The work in this paper can help provide a detailed elaboration and summary of the core technologies of Proof-of-Work and Proof-of-Stake and its variants. And show that it is effective that Proof-of-Stake combined with Proof-of-Work is effective in resource saving. It is hoped that this article will provide a more detailed reference for subsequent research on consensus algorithms.