Delegated Proof of Reputation: a novel Blockchain consensus
Thuat Do, Thao Nguyen, Hung Pham
TL;DR
This paper introduces Delegated Proof of Reputation, a new blockchain consensus mechanism that enhances scalability and security by replacing coin staking with a reputation-based ranking system.
Contribution
The paper proposes a novel consensus protocol that integrates reputation ranking theories to improve blockchain scalability and security over existing delegated proof systems.
Findings
The proposed mechanism is scalable and secure.
It maintains acceptable decentralization.
Replaces coin staking with reputation ranking.
Abstract
Consensus mechanism is the heart of any blockchain network. Many projects have proposed alternative protocols to improve restricted scalability of Proof of Work originated since Bitcoin. As an improvement of Delegated Proof of Stake, in this paper, we introduce a novel consensus, namely, Delegated Proof of Reputation, which is scalable, secure with an acceptable decentralization. Our innovative idea is replacing pure coinstaking by a reputation ranking system essentially based on ranking theories (PageRank, NCDawareRank and HodgeRank).
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Taxonomy
TopicsBlockchain Technology Applications and Security · Internet Traffic Analysis and Secure E-voting · Peer-to-Peer Network Technologies