Sharding-Based Proof-of-Stake Blockchain Protocols: Security Analysis
This addresses security concerns for blockchain scalability in sectors like healthcare and cryptocurrencies, but it is incremental as it builds on existing sharding solutions.
The paper tackles the security issues in sharding-based Proof-of-Stake blockchain protocols by analyzing the probability of committing a faulty block and measuring security in terms of years to fail, with results validated through numerical analysis.
Blockchain technology has been gaining great interest from a variety of sectors, including healthcare, supply chain and cryptocurrencies. However, Blockchain suffers from its limited ability to scale (i.e. low throughput and high latency). Several solutions have been appeared to tackle this issue. In particular, sharding proved that it is one of the most promising solutions to Blockchain scalability. Sharding can be divided into two major categories: (1) Sharding-based Proof-of-Work (PoW) Blockchain protocols, and (2) Sharding-based Proof-of-Stake (PoS) Blockchain protocols. The two categories achieve a good performances (i.e. good throughput with a reasonable latency), but raise security issues. This article attends that analyze the security of the second category. More specifically, we compute the probability of committing a faulty block and measure the security by computing the number of years to fail. Finally, to show the effectiveness of the proposed model, we conduct a numerical analysis and evaluate the results obtained.