A New Hybrid Consensus Protocol: Deterministic Proof Of Work
This addresses scalability and consistency issues in blockchain systems for decentralized applications, representing a novel hybrid approach rather than an incremental improvement.
The paper tackles the tradeoffs in blockchain consensus by proposing Deterministic Proof of Work (DPoW), a hybrid protocol that combines Map-reduce PoW mining with PBFT verification to achieve immediate transaction confirmation, prevent forking, and maintain decentralization, with experimental validation supporting these claims.
The Decentralized-Consistent-Scale (DCS) Triangle defines three dimensions that illustrate the tradeoffs of the blockchain consensus mechanism. In this paper, we propose a new hybrid consensus protocol, called Deterministic Proof of Work (DPoW), which can reach high levels of scalability and consistency without significant reduction to decentralization. Our protocol introduces a Map-reduce PoW mining algorithm to perform alongside Practical Byzantine Fault Tolerance (PBFT) verification, which together allow for transactions to be confirmed immediately, largely improving scalability. In addition, the protocol is designed such that forking cannot occur, ensuring strong consistency and security against a multitude of attacks. The Map-reduce PoW mining process ensures that no single entity can control the network, guaranteeing decentralization. We analyzed the security of our protocol by evaluating the possibility of double spending attacks, and furthermore, conducted experiments which demonstrate our claims.