A Generic Paradigm for Blockchain Design

Thai, Phuc; Njilla, Laurent; Duong, Tuyet; Fan, Lei; Zhou, Hong-Sheng

doi:10.1145/3286978.3286982

Cited by 4 publications

(2 citation statements)

References 14 publications

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“…Generalization to multiple resources. Following the idea in [37], Minotaur can be extended to more than two resources. Note that, in contrast to their construction, this is achievable without fundamentally changing the structure of the protocol.…”

Section: Discussionmentioning

confidence: 99%

“…In particular, and contrary to their initial claims, the protocol is not proven secure under the condition that any minority of the combined resources is controlled by the adversary. 1 The work of [11] was extended in [10], to adapt to dynamic participation of both, hashing power and stake, and in [37], to combine PoW with multiple resources (rather than just PoS)-both works lack a rigorous security analysis.…”

Section: Introductionmentioning

confidence: 99%

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Minotaur: Multi-Resource Blockchain Consensus

Fitzi¹,

Wang²,

Kannan³

et al. 2022

Preprint

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Resource-based consensus is the backbone of permissionless distributed ledger systems. The security of such protocols relies fundamentally on the level of resources actively engaged in the system. The variety of different resources (and related proof protocols, some times referred to as PoX in the literature) raises the fundamental question whether it is possible to utilize many of them in tandem and build multi-resource consensus protocols. The challenge in combining different resources is to achieve fungibility between them, in the sense that security would hold as long as the cumulative adversarial power across all resources is bounded.In this work, we put forth Minotaur, a multi-resource blockchain consensus protocol that combines proof of work (PoW) and proofof-stake (PoS), and we prove it optimally fungible. At the core of our design, Minotaur operates in epochs while continuously sampling the active computational power to provide a fair exchange between the two resources, work and stake. Further, we demonstrate the ability of Minotaur to handle a higher degree of work fluctuation as compared to the Bitcoin blockchain; we also generalize Minotaur to any number of resources.We demonstrate the simplicity of Minotaur via implementing a full stack client in Rust (available open source [25]). We use the client to test the robustness of Minotaur to variable mining power and combined work/stake attacks and demonstrate concrete empirical evidence towards the suitability of Minotaur to serve as the consensus layer of a real-world blockchain.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%