SHI Liucheng, GUO Zhaozhong. Baguena: A Practical Proof of Stake Protocol with a Robust Delegation Mechanism[J]. Chinese Journal of Electronics, 2020, 29(5): 887-898. doi: 10.1049/cje.2020.08.004
Citation: SHI Liucheng, GUO Zhaozhong. Baguena: A Practical Proof of Stake Protocol with a Robust Delegation Mechanism[J]. Chinese Journal of Electronics, 2020, 29(5): 887-898. doi: 10.1049/cje.2020.08.004

Baguena: A Practical Proof of Stake Protocol with a Robust Delegation Mechanism

doi: 10.1049/cje.2020.08.004
Funds:  This work is supported by the National Key R&D Program of China (No.2017YFB0802000) and the National Natural Science Foundation of China (No.61672059).
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  • Corresponding author: GUO Zhaozhong (corresponding and co-first author) was born in 1989. He is a Ph.D. candidate in School of Mathematical Sciences, Peking University. His research interests include blockchain, public key cryptography and distributed randomness generation. (Email:gzzpku@163.com)
  • Received Date: 2019-11-04
  • Rev Recd Date: 2020-03-03
  • Publish Date: 2020-09-10
  • Proof of stake (PoS), aiming at replacing Proof of work (PoW) in blockchain consensus, has drawn great attention from academia and industry. We present "Baguena", a novel PoS protocol for public blockchain with high practicality and security. It uses a special designed algorithm with properties of uniqueness and anonymity for leader selection, and uses the longest chain rule for chain selection. Besides, entropy is introduced to prevent manipulation of leader selection process by simulating a random beacon based on Publicly verifiable secret sharing (PVSS) and threshold signature with only a linear number of exponentiations. We analyze the protocol's security by a threat model and design a robust delegation mechanism based on triple Elliptic curve digital signature algorithm (ECDSA) proxy signature. We implement Baguena and evaluate its performance on 100 Amazon EC2 virtual machines simulating 50k users, which shows that Baguena confirms transactions in 2 minutes, achieves 2.16×of Algorand's throughput and 6.95×of Ouroboros' throughput.
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