Papers tagged as ProofOfStake
  1. Pixel: Multi-signatures for Consensus 2020 Blockchains CryptocurrencyScaling ProofOfStake Signatures Usenix eprint.iacr.org
    Manu Drijvers, Sergey Gorbunov, Gregory Neven, and Hoeteck Wee

    In Proof-of-Stake (PoS) and permissioned blockchains, a committee of verifiers agrees and sign every new block of transactions. These blocks are validated, propagated, and stored by all users in the network. However, posterior corruptions pose a common threat to these designs, because the adversary can corrupt committee verifiers after they certified a block and use their signing keys to certify a different block. Designing efficient and secure digital signatures for use in PoS blockchains can substantially reduce bandwidth, storage and computing requirements from nodes, thereby enabling more efficient applications.


    We present Pixel, a pairing-based forward-secure multi-signature scheme optimized for use in blockchains, that achieves substantial savings in bandwidth, storage requirements, and verification effort. Pixel signatures consist of two group elements, regardless of the number of signers, can be verified using three pairings and one exponentiation, and support non-interactive aggregation of individual signatures into a multi-signature. Pixel signatures are also forward-secure and let signers evolve their keys over time, such that new keys cannot be used to sign on old blocks, protecting against posterior corruptions attacks on blockchains. We show how to integrate Pixel into any PoS blockchain. Next, we evaluate Pixel in a real-world PoS blockchain implementation, showing that it yields notable savings in storage, bandwidth, and block verification time. In particular, Pixel signatures reduce the size of blocks with 1500 transactions by 35% and reduce block verification time by 38%.

  2. I Can’t Believe It’s Not Stake! Resource Exhaustion Attacks on PoS 2019 Blockchains FinancialCryptography ProofOfStake ifca.ai
    Sanket Kanjalkar, Joseph Kuo, Yunqi Li, and Andrew Miller

    We present a new resource exhaustion attack affecting several chain-based proof-of-stake cryptocurrencies, and in particular Qtum, a top 30 cryptocurrency by market capitalization ($300M as of Sep ’18). In brief, these cryptocurrencies do not adequately validate the proof-of-stake before allocating resources to data received from peers. An attacker can exploit this vulnerability, even without any stake at all, simply by connecting to a victim and sending malformed blocks, which the victim stores on disk or in RAM, eventually leading to a crash. We demonstrate and benchmark the attack through experiments attacking our own node on the Qtum main network; in our experiment we are able to fill the victim’s RAM at a rate of 2MB per second, or the disk at a rate of 6MB per second. We have begun a responsible disclosure of this vulnerability to appropriate development teams. Our disclosure includes a Docker-based reproducibility kit using the Python-based test framework. This problem has gone unnoticed for several years. Although the attack can be mitigated, this appears to require giving up optimizations enjoyed by proof-of-work cryptocurrencies, underscoring the difficulty in implementing and deploying chain-based proof-of-stake.

  3. Proof-of-Stake Protocols for Privacy-Aware Blockchains 2019 Blockchains Eurocrypt Privacy ProofOfStake eprint.iacr.org
    Chaya Ganesh, Claudio Orlandi, and Daniel Tschudi

    Proof-of-stake (PoS) protocols are emerging as one of the most promising alternative to the wasteful proof-of-work (PoW) protocols for consensus in Blockchains (or distributed ledgers).


    However, current PoS protocols inherently disclose both the identity and the wealth of the stakeholders, and thus seem incompatible with privacy-preserving cryptocurrencies (such as ZCash, Monero, etc.).


    In this paper we initiate the formal study for PoS protocols with privacy properties. Our results include:




    • A (theoretical) feasibility result showing that it is possible to construct a general class of private PoS (PPoS) protocols; and to add privacy to a wide class of PoS protocols,




    • A privacy-preserving version of a popular PoS protocol, Ouroboros Praos.




    Towards our result, we define the notion of anonymous verifiable random function, which we believe is of independent interest.

  4. Snow White: Robustly Reconfigurable Consensus and Applications to Provably Secure Proofs of Stake 2019 Blockchains FinancialCryptography ProofOfStake eprint.iacr.org
    Phil Daian, Rafael Pass, and Elaine Shi

    Decentralized cryptocurrencies have pushed deployments of distributed consensus to more stringent environments than ever before. Most existing protocols rely on proofs-of-work which require expensive computational puzzles to enforce, imprecisely speaking, “one vote per unit of computation”. The enormous amount of energy wasted by these protocols has been a topic of central debate, and well-known cryptocurrencies have announced it a top priority to alternative paradigms. Among the proposed alternative solutions, proofs-of-stake protocols have been of particular interest, where roughly speaking, the idea is to enforce “one vote per unit of stake”. Although the community have rushed to propose numerous candidates for proofs-of-stake, no existing protocol has offered formal proofs of security, which we believe to be a critical, indispensible ingredient of a distributed consensus protocol, particularly one that is to underly a high-value cryptocurrency system.


    In this work, we seek to address the following basic questions:


    • What kind of functionalities and robustness requirements should a consensus candidate offer to be suitable in a proof-of-stake application?


    • Can we design a provably secure protocol that satisfies these requirements?


    To the best of our knowledge, we are the first to formally articulate a set of requirements for consensus candidates for proofs-of-stake. We argue that any consensus protocol satisfying these properties can be used for proofs-of-stake, as long as money does not switch hands too quickly. Moreover, we provide the first consensus candidate that provably satisfies the desired robustness properties.

  5. Ouroboros Praos: An adaptively-secure, semi-synchronous proof-of-stake protocol 2018 Blockchains Eurocrypt ProofOfStake eprint.iacr.org
    Bernardo David, Peter Gaži, Aggelos Kiayias, and Alexander Russell

    We present “Ouroboros Praos”, a new proof-of-stake blockchain protocol that provides, for the first time, a robust distributed ledger that is provably secure in the semi-synchronous adversarial setting, i.e., assuming a delay \Delta in message delivery which is unknown to protocol participants, and fully adaptively secure, i.e., the adversary can choose to corrupt any participant of an ever evolving population of stakeholders at any moment as long the stakeholder distribution maintains an honest majority of stake at any given time. To achieve that, our protocol puts to use forward secure digital signatures and a new type of verifiable random functions that maintains unpredictability under malicious key generation, a property we introduce and instantiate in the random oracle model. Our security proof entails a combinatorial analysis of a class of forkable strings tailored to semi-synchronous blockchains that may be of independent interest in the context of security analysis of blockchain protocols.