A New Consensus Protocol for Blockchain Interoperability Architecture

Yan Pang

doi:10.1109/ACCESS.2020.3017549

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A New Consensus Protocol for Blockchain Interoperability Architecture

2020-01-01

Yan Pang *

DOI：10.1109/ACCESS.2020.3017549

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Abstract

En 中文

Blockchain is widely recognized as a potential disruptive technology that has gained much popularity recently. Despite many promising results, the current blockchain landscape is fragmented, in which many blockchain systems exist in silos. Interoperability becomes a critical functionality to facilitate broad blockchain adoption and starts to attract attention in both industry and academia research. In this paper, we propose a new consensus protocol, Multi-tokens Proof of Stake (MPoS), for blockchain interoperability architecture. The MPoS protocol is able to strengthen the token network effects in a cross-chain ecosystem and grow the user base of blockchain systems dramatically. We also provide an analytical model to analyze and prove that the MPoS protocol can offer better security than traditional single-token PoS consensus protocols.

Keywords:

Blockchain

interoperability

cross-chain

consensus protocol

Proof of Stake (PoS)

tokens

cryptocurrency

token network effects

bootstrapping

security

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