Fuzzychain: An Equitable Consensus Mechanism for Blockchain Networks

arXiv:2404.13337v1 Announce Type: new
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 …

algorithms arxiv blockchain cs.cr cs.et cs.lo distributed encrypted mechanism network networks nodes popular pos power proof stake technology transactions