A Unifying Hybrid Consensus Protocol
This addresses consensus in blockchain systems, but appears incremental as it merges existing approaches.
The paper tackled the problem of designing a consensus algorithm for public blockchains by introducing Unity, a hybrid protocol combining Proof-of-Work and Proof-of-Stake, which achieved fairness and scalability to an arbitrary number of participants.
We introduce Unity, a new consensus algorithm for public blockchain settings. Unity is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It encompasses hardware and economic security without sacrificing availability, unpredictability and decentralization. Empirical results indicate that the proposed protocol is fair and scalable to an arbitrary number of miners and stakers.