Mwrwan Abubakar M.Abubakar@napier.ac.uk
Associate
PoNW: A Secure and Scalable Proof-of-Notarized-Work-Based Consensus Mechanism
Abubakar, Mwrwan A; Jaroucheh, Zakwan; Al-Dubai, Ahmed; Buchanan, Bill
Authors
Dr Zakwan Jaroucheh Z.Jaroucheh@napier.ac.uk
Associate Professor
Prof Ahmed Al-Dubai A.Al-Dubai@napier.ac.uk
Professor
Prof Bill Buchanan B.Buchanan@napier.ac.uk
Professor
Abstract
The original consensus algorithm - Proof of Work (PoW) has been widely utilized in the blockchain systems and is been adopted by many cryptocurrencies, such as Bitcoin and Ethereum, among many others. Nevertheless, the concept has received criticisms over its high energy consumption. This is induced by the necessity for all nodes in the network to communicate synchronously for consensus over the ledger state to be reached. Additionally, the concept has also shown clear limitations regarding performance and throughput. In trying to rectify this issue, the paper proposes the introduction of a new hybrid consensus protocol known as the Proof of Notarized Work (PoNW). The PoNW concept reduces the number of nodes that need to achieve consensus, thereby reducing the overall energy consumption in the current PoW. In addition, we propose using a decentralized random beacon to select nodes to participate in the mining process randomly. Therefore, our algorithm promises to achieve higher scalability and consistency levels without conceding its decentralization. When this is paired with a Byzantine Fault Tolerance (PBFT) verification, the system gains the ability to replace the probabilistic finality in current PoW with absolute finality in a matter of seconds, solving the issue of scalability. Finally, the study will look into the proposed algorithm's security and provides threats model to insure an acceptable failure probability. Results from the security analysis have shown that our consensus algorithm ensures forks cannot occur, and it remains secure and consistent even amid numerous attacks.
Citation
Abubakar, M. A., Jaroucheh, Z., Al-Dubai, A., & Buchanan, B. (2020, November). PoNW: A Secure and Scalable Proof-of-Notarized-Work-Based Consensus Mechanism. Presented at 4th International Conference on Vision, Image and Signal Processing, Newcastle, UK
Presentation Conference Type | Conference Paper (Published) |
---|---|
Conference Name | 4th International Conference on Vision, Image and Signal Processing |
Start Date | Nov 14, 2020 |
End Date | Nov 16, 2020 |
Publication Date | 2020-12 |
Deposit Date | Jul 21, 2021 |
Publicly Available Date | Jul 21, 2021 |
Publisher | Association for Computing Machinery (ACM) |
Pages | 1-8 |
Book Title | ICVISP 2020: Proceedings of the 2020 4th International Conference on Vision, Image and Signal Processing |
DOI | https://doi.org/10.1145/3448823.3448875 |
Keywords | PoW, PoNW, decentralized random beacon |
Public URL | http://researchrepository.napier.ac.uk/Output/2705215 |
Files
PoNW: A Secure And Scalable Proof-of-Notarized-Work-Based Consensus Mechanism (accepted version)
(916 Kb)
PDF
You might also like
A novel situation specific network security for Wireless Sensor Networks
(2015)
Journal Article
Guest editorial: scalable computing and communications
(2013)
Journal Article
A new dynamic counter-based broadcasting scheme for mobile ad hoc networks.
(2011)
Journal Article
An efficient neighbourhood load routing metric for wireless mesh networks
(2010)
Journal Article
GLBM: A new QoS aware multicast scheme for wireless Mesh network
(2010)
Journal Article
Downloadable Citations
About Edinburgh Napier Research Repository
Administrator e-mail: repository@napier.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2024
Advanced Search