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An Incentivization Mechanism with Validator Voting Profile in Proof-of-Stake-Based Blockchain
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Summary :
The Proof of Stake (PoS) protocol is one of the consensus algorithms for blockchain, in which the integrity of a new block is validated according to voting by nodes called validators. However, due to validator-oriented voting, voting results are likely to be false when the number of validators with wrong votes increases. In the PoS protocol, validators are motivated to vote correctly by reward and penalty mechanisms. With such mechanisms, validators who contribute to correct consensuses are rewarded, while those who vote incorrectly are penalized. In this paper, we consider an incentivization mechanism based on the voting profile of a validator, which is estimated from the voting history of the validator. In this mechanism, the stake collected due to the penalties are redistributed to validators who vote correctly, improving the incentive of validators to contribute to the system. We evaluate the performance of the proposed mechanism by computer simulations, investigating the impacts of system parameters on the estimation accuracy of the validator profile and the amount of validator's stake. Numerical results show that the proposed mechanism can estimate the voting profile of a validator accurately even when the voting profile dynamically changes. It is also shown that the proposed mechanism gives more reward to validators who vote correctly with high voting profile.
- Publication
- IEICE TRANSACTIONS on Communications Vol.E105-B No.2 pp.228-239
- Publication Date
- 2022/02/01
- Publicized
- 2021/08/05
- Online ISSN
- 1745-1345
- DOI
- 10.1587/transcom.2021CEP0004
- Type of Manuscript
- Special Section PAPER (Special Section on Emerging Communication Technologies in Conjunction with Main Topics of ICETC2020)
- Category
Authors
Takeaki MATSUNAGA
Nara Institute of Science and Technology
Yuanyu ZHANG
Nara Institute of Science and Technology
Masahiro SASABE
Nara Institute of Science and Technology
Shoji KASAHARA
Nara Institute of Science and Technology
Keyword
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Takeaki MATSUNAGA, Yuanyu ZHANG, Masahiro SASABE, Shoji KASAHARA, "An Incentivization Mechanism with Validator Voting Profile in Proof-of-Stake-Based Blockchain" in IEICE TRANSACTIONS on Communications,
vol. E105-B, no. 2, pp. 228-239, February 2022, doi: 10.1587/transcom.2021CEP0004.
Abstract: The Proof of Stake (PoS) protocol is one of the consensus algorithms for blockchain, in which the integrity of a new block is validated according to voting by nodes called validators. However, due to validator-oriented voting, voting results are likely to be false when the number of validators with wrong votes increases. In the PoS protocol, validators are motivated to vote correctly by reward and penalty mechanisms. With such mechanisms, validators who contribute to correct consensuses are rewarded, while those who vote incorrectly are penalized. In this paper, we consider an incentivization mechanism based on the voting profile of a validator, which is estimated from the voting history of the validator. In this mechanism, the stake collected due to the penalties are redistributed to validators who vote correctly, improving the incentive of validators to contribute to the system. We evaluate the performance of the proposed mechanism by computer simulations, investigating the impacts of system parameters on the estimation accuracy of the validator profile and the amount of validator's stake. Numerical results show that the proposed mechanism can estimate the voting profile of a validator accurately even when the voting profile dynamically changes. It is also shown that the proposed mechanism gives more reward to validators who vote correctly with high voting profile.
URL: https://global.ieice.org/en_transactions/communications/10.1587/transcom.2021CEP0004/_p
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@ARTICLE{e105-b_2_228,
author={Takeaki MATSUNAGA, Yuanyu ZHANG, Masahiro SASABE, Shoji KASAHARA, },
journal={IEICE TRANSACTIONS on Communications},
title={An Incentivization Mechanism with Validator Voting Profile in Proof-of-Stake-Based Blockchain},
year={2022},
volume={E105-B},
number={2},
pages={228-239},
abstract={The Proof of Stake (PoS) protocol is one of the consensus algorithms for blockchain, in which the integrity of a new block is validated according to voting by nodes called validators. However, due to validator-oriented voting, voting results are likely to be false when the number of validators with wrong votes increases. In the PoS protocol, validators are motivated to vote correctly by reward and penalty mechanisms. With such mechanisms, validators who contribute to correct consensuses are rewarded, while those who vote incorrectly are penalized. In this paper, we consider an incentivization mechanism based on the voting profile of a validator, which is estimated from the voting history of the validator. In this mechanism, the stake collected due to the penalties are redistributed to validators who vote correctly, improving the incentive of validators to contribute to the system. We evaluate the performance of the proposed mechanism by computer simulations, investigating the impacts of system parameters on the estimation accuracy of the validator profile and the amount of validator's stake. Numerical results show that the proposed mechanism can estimate the voting profile of a validator accurately even when the voting profile dynamically changes. It is also shown that the proposed mechanism gives more reward to validators who vote correctly with high voting profile.},
keywords={},
doi={10.1587/transcom.2021CEP0004},
ISSN={1745-1345},
month={February},}
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TY - JOUR
TI - An Incentivization Mechanism with Validator Voting Profile in Proof-of-Stake-Based Blockchain
T2 - IEICE TRANSACTIONS on Communications
SP - 228
EP - 239
AU - Takeaki MATSUNAGA
AU - Yuanyu ZHANG
AU - Masahiro SASABE
AU - Shoji KASAHARA
PY - 2022
DO - 10.1587/transcom.2021CEP0004
JO - IEICE TRANSACTIONS on Communications
SN - 1745-1345
VL - E105-B
IS - 2
JA - IEICE TRANSACTIONS on Communications
Y1 - February 2022
AB - The Proof of Stake (PoS) protocol is one of the consensus algorithms for blockchain, in which the integrity of a new block is validated according to voting by nodes called validators. However, due to validator-oriented voting, voting results are likely to be false when the number of validators with wrong votes increases. In the PoS protocol, validators are motivated to vote correctly by reward and penalty mechanisms. With such mechanisms, validators who contribute to correct consensuses are rewarded, while those who vote incorrectly are penalized. In this paper, we consider an incentivization mechanism based on the voting profile of a validator, which is estimated from the voting history of the validator. In this mechanism, the stake collected due to the penalties are redistributed to validators who vote correctly, improving the incentive of validators to contribute to the system. We evaluate the performance of the proposed mechanism by computer simulations, investigating the impacts of system parameters on the estimation accuracy of the validator profile and the amount of validator's stake. Numerical results show that the proposed mechanism can estimate the voting profile of a validator accurately even when the voting profile dynamically changes. It is also shown that the proposed mechanism gives more reward to validators who vote correctly with high voting profile.
ER -
English
