Formal analysis of a proof-of-stake blockchain
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Dong, N
Bai, G
Dong, JS
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Melbourne, Australia
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Abstract
Blockchain technology relies on consensus algorithms to resolve conflicts in Byzantine environments. New blockchain algorithms are rapidly designed and implemented without a properly conducted formal analysis and verification. In this paper, we conducted a study on Tendermint which is a proof-of-stake consensus algorithm. We verified that the consensus protocol is deadlock-free and is able to reach consensus when at least 2/3 of the network is in agreement. We also proved that a minority set of nodes that compose more than 1/3 of the network is enough to censor the majority of the network and prevent the network from reaching consensus and conclude that the algorithm has some shortcomings on availability.
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Proceedings of the IEEE International Conference on Engineering of Complex Computer Systems, ICECCS
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2018-December
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© 2018 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
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Software engineering