In 2016, New Economy Movement (NEM) experienced a surge of popularity and price. The NEM protocol has introduced several unique blockchain features, including proof-of-importance, a node reputation system, and native multisig capabilities, among others.
Proof of stake
A peer-to-peer crypto-currency design derived from Satoshi Nakamoto’s Bitcoin. Proof-of-stake replaces proof-of-work to provide most of the network security. Under this hybrid design proof-of-work mainly provides initial minting and is largely non-essential in the long run. Security level of the network is not dependent on energy consumption in the long term thus providing an energy-efficient […]
Proof of Stake Velocity (PoSV) is proposed as an alternative to Proof of Work (PoW) and Proof of Stake (PoS) to secure the peer-to-peer network and confirm transactions of Reddcoin, a cryptocurrency created specifi- cally to facilitate social interactions in the digital age. PoSV is designed to encourage both ownership (Stake) and activity (Velocity) which […]
Bitcoin has proven that a peer-to-peer electronic cash system can indeed work and fulfill payments processing without requiring trust or a central mint. However, for an entire electronic economy to be based on a fully decentralized, peer-to-peer solution, it must be able to do the follow- ing: process transactions securely, quickly and efficiently, at the […]
This paper introduces a new implementation of proof of stake that can validate transactions in seconds while providing greater security in a shorter period of time than all existing proof of stake systems. In the time it takes Bitcoin to produce a single block a DPOS system can have your transaction verified by 20% of […]
Proof-of-stake is frequently proposed as a mechanism for distributed consensus in non-Bitcoin cryptocurrencies (altcoins). However, this idea appears to be fundamentally flawed. We explore the history and motivation leading to Bitcoin’s distributed consensus mechanism, which evades a impossibility result, and demonstrate that proof of stake does not work as a replacement
A proposal for a proof of stake cryptocurrency system that operates with a coin minting process different from bitcoin’s SHA256 ‘mining’.
It is a widely spread belief that crypto-currencies implementing a proof of stake transaction validation system are less vulnerable to a 51% attack than crypto-currencies implementing a proof of work transaction validation system. In this article, we show that it is not the case and that, in fact, if the attacker’s motivation is large enough […]