Unsealing the secrets of blockchain consensus: A systematic comparison of the formal security of proof-of-work and proof-of-stake. (arXiv:2401.14527v1 [cs.CR])

With the increasing adoption of decentralized information systems based on a
variety of permissionless blockchain networks, the choice of consensus
mechanism is at the core of many controversial discussions. Ethereum's recent
transition from (PoW) to proof-of-stake (PoS)-based consensus has further
fueled the debate on which mechanism is more favorable. While the aspects of
energy consumption and degree of (de-)centralization are often emphasized in
the public discourse, seminal research has also shed light on the formal
security aspects of both approaches …

adoption arxiv blockchain decentralized discussions ethereum information mechanism networks pos pow proof secrets security stake systems transition work