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Paper Abstract and Keywords
Presentation 2020-03-05 11:20
Effects of Coin Age on Centralization of Proof-of-Stake Blockchains
Shu Takayama, Ryunosuke Nagayama, Kai Otsuki, Kazuyuki Shudo (Tokyo Tech) NS2019-207
Abstract (in Japanese) (See Japanese page) 
(in English) Proof-of-Stake is a type of consensus protocol used in blockchain technology. Peercoin is the first cryptocurrency with Proof-of-Stake, the protocol of which has a concept termed coin age. Coin age is a parameter of an Unspent Transaction Output (UTXO), which is the product of its amount and its age. On the other hand, the concept of coin age has been removed from Proof-of-Stake 3.0 used in Blackcoin v1.2. We are concerned about the possibility that the change of the protocol reinforces the centralization of the mining network. Thus we performed simulation experiments. As a result, we concluded that Proof-of-Stake 3.0 reinforces the centralization of the mining network because it motivates miners having a large amount of money to optimize their staking strategy.
Keyword (in Japanese) (See Japanese page) 
(in English) Cryptocurrency / Blockchain / Proof-of-Stake / Peercoin / Blackcoin / SimBlock / /  
Reference Info. IEICE Tech. Rep., vol. 119, no. 460, NS2019-207, pp. 175-178, March 2020.
Paper # NS2019-207 
Date of Issue 2020-02-27 (NS) 
ISSN Print edition: ISSN 0913-5685  Online edition: ISSN 2432-6380
Copyright
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reproduction
All rights are reserved and no part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher. Notwithstanding, instructors are permitted to photocopy isolated articles for noncommercial classroom use without fee. (License No.: 10GA0019/12GB0052/13GB0056/17GB0034/18GB0034)
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Conference Information
Committee NS IN  
Conference Date 2020-03-05 - 2020-03-06 
Place (in Japanese) (See Japanese page) 
Place (in English) Royal Hotel Okinawa Zanpa-Misaki 
Topics (in Japanese) (See Japanese page) 
Topics (in English) General 
Paper Information
Registration To NS 
Conference Code 2020-03-NS-IN 
Language Japanese 
Title (in Japanese) (See Japanese page) 
Sub Title (in Japanese) (See Japanese page) 
Title (in English) Effects of Coin Age on Centralization of Proof-of-Stake Blockchains 
Sub Title (in English)  
Keyword(1) Cryptocurrency  
Keyword(2) Blockchain  
Keyword(3) Proof-of-Stake  
Keyword(4) Peercoin  
Keyword(5) Blackcoin  
Keyword(6) SimBlock  
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Keyword(8)  
1st Author's Name Shu Takayama  
1st Author's Affiliation Tokyo Institute of Technology (Tokyo Tech)
2nd Author's Name Ryunosuke Nagayama  
2nd Author's Affiliation Tokyo Institute of Technology (Tokyo Tech)
3rd Author's Name Kai Otsuki  
3rd Author's Affiliation Tokyo Institute of Technology (Tokyo Tech)
4th Author's Name Kazuyuki Shudo  
4th Author's Affiliation Tokyo Institute of Technology (Tokyo Tech)
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Speaker
Date Time 2020-03-05 11:20:00 
Presentation Time 20 
Registration for NS 
Paper # NS2019-207 
Volume (vol) 119 
Number (no) no.460 
Page pp.175-178 
#Pages
Date of Issue 2020-02-27 (NS) 


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