Keynote: Blockchain Consensus Framework

Blockchain technology has been gaining popularity in the public, in industry, and in academia. However, these systems are currently limited in their ability to support robust, large-scale applications …

Blockchain technology has been gaining popularity in the public, in industry, and in academia. However, these systems are currently limited in their ability to support robust, large-scale applications due to scalability and security challenges. A fundamental step to resolving some of these challenges lies in the consensus layer. As such, both industry and academia are heavily investing in consensus research and development, seeking alternatives to Bitcoin’s Nakamoto consensus. Many of these protocols favor Proof of Stake (PoS) as a Sybil control mechanism to today’s Proof of Work (PoW). This talk presents a systematization of knowledge within these major blockchain protocols, understanding the common challenges and solutions, and providing a formal structure within which to compare them. We break down these protocols by network, adversarial, and economic model, deeply understanding the common challenges of choosing proposers and committees, propagation, and finality.