[Resource Topic] 2023/373: Consensus Algorithm Using Transaction History for Cryptocurrency

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Consensus Algorithm Using Transaction History for Cryptocurrency

Authors: Yuuki Komi, Takayuki Tatekawa


Blockchain consensus algorithms for cryptocurrency consist of the proof of work and proof of stake. However, current algorithms have problems, such as huge power consumption and equality issues. We propose a new consensus algorithm that uses transaction history. This algorithm ensures equality by randomly assigning approval votes based on past transaction records. We also incorporate a mechanism for adjusting issuance volume to measure the stability of the currency’s value.

ePrint: https://eprint.iacr.org/2023/373

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