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Fuzzychain: An Equitable Consensus Mechanism for Blockchain Networks

Published 20 Apr 2024 in cs.CR, cs.ET, and cs.LO | (2404.13337v2)

Abstract: Blockchain technology has become a trusted method for establishing secure and transparent transactions through a distributed, encrypted network. The operation of blockchain is governed by consensus algorithms, among which Proof of Stake (PoS) is popular yet has its drawbacks, notably the potential for centralising power in nodes with larger stakes or higher rewards. Fuzzychain, our proposed solution, introduces the use of fuzzy sets to define stake semantics, promoting decentralised and distributed processing control. This system selects validators based on their degree of membership to the stake fuzzy sets rather than just the size of their stakes. As a pioneer proposal in applying fuzzy sets to blockchain, Fuzzychain aims to rectify PoS's limitations. Our results indicate that Fuzzychain not only matches PoS in functionality but also ensures a fairer distribution of stakes among validators, leading to more inclusive validator selection and a better-distributed network.

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