Permissionless blockchain systems as pseudo-random number generators for decentralized consensus

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dc.contributor.authorBezuidenhout, Riaan
dc.contributor.authorNel, Wynand
dc.contributor.authorMaritz, Jacques M.
dc.date.accessioned2023-03-16T07:29:41Z
dc.date.available2023-03-16T07:29:41Z
dc.date.issued2023
dc.description.abstractConsensus algorithms that function in permissionless blockchain systems must randomly select new block proposers in a decentralised environment. Our contribution is a new blockchain consensus algorithm called Proof-of-Publicly Verifiable Randomness (PoPVR). It may be used in blockchain design to make permissionless blockchain systems function as pseudo-random number generators and to use the results for decentralised consensus. The method employs verifiable random functions to embed pseudo-random number seeds in the blockchain that are confidential, tamper-resistant, unpredictable, collision-resistant, and publicly verifiable. PoPVR does not require large-scale computation, as is the case with Proof-of-Work and is not vulnerable to the exclusion of less wealthy stakeholders from the consensus process inherent in stake-based alternatives. It aims to promote fairness of participation in the consensus process by all participants and functions transparently using only open-source algorithms. PoPVR may also be useful in blockchain systems where asset values cannot be directly compared, for example, logistical systems, intellectual property records and the direct trading of commodities and services. PoPVR scales well with complexity linear in the number of transactions per block.en_ZA
dc.description.versionPublisher's versionen_ZA
dc.identifier.citationBezuidenhout, R., Nel, W., & Maritz, J. M. (2023). Permissionless blockchain systems as pseudo-random number generators for decentralized consensus. IEEE Access, 11, 14587-14611. https://doi.org/10.1109/ACCESS.2023.3244403en_ZA
dc.identifier.issn2169-3536
dc.identifier.otherhttps://doi.org/10.1109/ACCESS.2023.3244403
dc.identifier.urihttp://hdl.handle.net/11660/12064
dc.language.isoenen_ZA
dc.publisherIEEEen_ZA
dc.rights.holderAuthor(s)en_ZA
dc.rights.licensehttps://creativecommons.org/licenses/by-nc-nd/4.0/en_ZA
dc.subjectConsensus algorithmen_ZA
dc.subjectDecentralised consensusen_ZA
dc.subjectPermissionless blockchain systemsen_ZA
dc.subjectProof-based consensus algorithmsen_ZA
dc.subjectProof-of-publicly verifiable randomnessen_ZA
dc.subjectPseudo-random number generationen_ZA
dc.subjectRandom number seedsen_ZA
dc.subjectVerifiable random functionsen_ZA
dc.subjectVote-based consensus algorithmsen_ZA
dc.titlePermissionless blockchain systems as pseudo-random number generators for decentralized consensusen_ZA
dc.typeArticleen_ZA
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