Title: Security of Proof-of-Stake Blockchains
Ph.D. Candidate: Saad Quader
Major Advisor: Prof. Alexander Russell
Associate Advisors: Prof. Benjamin Fuller and Prof. Walter Krawec
Date/Time: Friday, October 23rd, 2020, 3:30 pm – 5:30 pm
Webex Meeting Link: https://uconn-cmr.webex.com/uconn-cmr/j.php?MTID=mc2fc14fe991eb93722e73358d4134712
Meeting Number: 120 029 4507
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Abstract:
In the past decade, blockchain technology has emerged as a foundation for a diverse range of distributed applications, notably cryptocurrencies and decentralized ledger. These protocols allow the users — across the globe and not needing to trust one another — exchange messages and eventually reach an agreement.
Currently, the most popular blockchain technology is the Proof-of-Work (PoW) paradigm, popularized by the cryptocurrency Bitcoin. Alternative paradigms, such as Proof-of-Stake (PoS), aim to provide the same functionalities and security as PoW while requiring only a fraction of a PoW network’s enormous energy cost. This, however, is non-trivial.
In this dissertation, we study the security of PoS blockchains in the eventual consensus model under the so-called “longest-chain rule.”
Our results have already made an impact in the industry, in that a leading PoS cryptocurrency Cardano is using our results and recommendations for designing their protocol.
About the Talk: In my talk, I will focus on our recent ICDCS 2020 paper. My goal will be to