Proof-of-Lottery: Design for Block Producing Algorithm Based on PoS for Scalability
Sung-bin Lee, DongYeop Hwang, Jonghyun Kim, Ki‐Hyung Kim · 2020
As blockchain technology has become popular, blockchain services have emerged. Blockchain has the potential to change the industry paradigm. However, decentralized P2P environment of blockchain creates a number of problems. In this paper, we suggest a design for a PoS, block producing algorithm, named Proof-of-Lottery(PoL) to solve these problems. The idea is that selecting block producer in a similar way to drawing a lottery. We expect to improve scalability in blockchain while not hurting decentralization.