A Unified Analytical model for proof-of-X schemes

Yu, G; Zha, X; Wang, X; Ni, W; Yu, K; Zhang, JA; Liu, RP

A Unified Analytical model for proof-of-X schemes

Yu, G Zha, X Wang, X

Ni, W Yu, K Zhang, JA Liu, RP

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Publisher:: ELSEVIER ADVANCED TECHNOLOGY
Publication Type:: Journal Article
Citation:: Computers and Security, 2020, 96
Issue Date:: 2020-09-01

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Field	Value	Language
dc.contributor.author	Yu, G
dc.contributor.author	Zha, X
dc.contributor.author	Wang, X https://orcid.org/0000-0001-9439-6437
dc.contributor.author	Ni, W
dc.contributor.author	Yu, K
dc.contributor.author	Zhang, JA
dc.contributor.author	Liu, RP
dc.date.accessioned	2021-01-05T01:00:35Z
dc.date.available	2021-01-05T01:00:35Z
dc.date.issued	2020-09-01
dc.identifier.citation	Computers and Security, 2020, 96
dc.identifier.issn	0167-4048
dc.identifier.issn	1872-6208
dc.identifier.uri	http://hdl.handle.net/10453/145079
dc.description.abstract	© 2020 Nakamoto protocol, practically solving the Byzantine Generals Problem, can support a variety of proof-based consensus engines, referred to as Proof-of-X (PoX) in permissionless Blockchains. However, there has been to date in lack of a general approach for each miner to evaluate its steady-state profit against the competitors. This paper presents a Markov model which captures explicitly the weighted resource distribution of PoX schemes in large-scale networks and unifies the analysis of different PoX schemes. The new model leads to the development of three new unified metrics for the evaluation, namely, Resource Sensitivity, System Convergence, and Resource Fairness, accounting for security, stability, and fairness, respectively. The generality and applicability of our model are validated by simulation results, revealing that among typically non-Fairness-oriented PoX schemes (such as Proof-of-Work (PoW) and Proof-of-Stake (PoS)), the strongly restricted coinage-based PoS with a Pareto-distributed resource can offer the best performance on Resource Sensitivity, while Proof-of-Publication (PoP) with normal-distributed resource performs the best on System Convergence. Our simulations also reveal the important role of carefully designed Resource Fairness parameter in balancing Resource Sensitivity and System Convergence and improving the performance compared with other non-Fairness-oriented PoX schemes.
dc.language	English
dc.publisher	ELSEVIER ADVANCED TECHNOLOGY
dc.relation.ispartof	Computers and Security
dc.relation.isbasedon	10.1016/j.cose.2020.101934
dc.rights	info:eu-repo/semantics/openAccess
dc.subject	08 Information and Computing Sciences
dc.subject.classification	Strategic, Defence & Security Studies
dc.title	A Unified Analytical model for proof-of-X schemes
dc.type	Journal Article
utslib.citation.volume	96
utslib.for	080303 Computer System Security
utslib.for	08 Information and Computing Sciences
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Strength - GBDTC - Global Big Data Technologies
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Electrical and Data Engineering
pubs.organisational-group	/University of Technology Sydney
utslib.copyright.status	open_access	*
dc.date.updated	2021-01-05T01:00:26Z
pubs.publication-status	Published
pubs.volume	96

Abstract:

© 2020 Nakamoto protocol, practically solving the Byzantine Generals Problem, can support a variety of proof-based consensus engines, referred to as Proof-of-X (PoX) in permissionless Blockchains. However, there has been to date in lack of a general approach for each miner to evaluate its steady-state profit against the competitors. This paper presents a Markov model which captures explicitly the weighted resource distribution of PoX schemes in large-scale networks and unifies the analysis of different PoX schemes. The new model leads to the development of three new unified metrics for the evaluation, namely, Resource Sensitivity, System Convergence, and Resource Fairness, accounting for security, stability, and fairness, respectively. The generality and applicability of our model are validated by simulation results, revealing that among typically non-Fairness-oriented PoX schemes (such as Proof-of-Work (PoW) and Proof-of-Stake (PoS)), the strongly restricted coinage-based PoS with a Pareto-distributed resource can offer the best performance on Resource Sensitivity, while Proof-of-Publication (PoP) with normal-distributed resource performs the best on System Convergence. Our simulations also reveal the important role of carefully designed Resource Fairness parameter in balancing Resource Sensitivity and System Convergence and improving the performance compared with other non-Fairness-oriented PoX schemes.

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http://hdl.handle.net/10453/145079