Proof of Reputation

TL;DR

The paper introduces Proof-of-Reputation (PoR), a new mining protocol that integrates cryptographic reputation with Proof-of-Work to reduce energy consumption while maintaining security in Bitcoin-like blockchains.

Contribution

It proposes a novel hybrid mining protocol combining PoW with cryptographic reputation, enhancing security and reducing energy use in decentralized blockchains.

Findings

Achieves similar security levels as pure PoW

Reduces energy consumption by approximately 30%

Supports a decentralized reputation protocol with certified mining

Abstract

We present the new mining protocol Proof-of-Reputation (PoR) for decentralized Proof-of-Work (PoW) blockchains, in particular for Bitcoin. PoR combines the classical PoW with the new ingredient of cryptographic reputation. The same level of security compared to pure PoW can be achieved with a significant energy consumption reduction (of the order of 30\%) for the same security level. The proper implementation of a decentralized reputation protocol is suitable with an extra layer of mining security: Certified Mining.