Master Thesis
Provably robust Proof-of-Stake protocols: Is there a winner?
The Proof of Work (PoW) mechanism behind Bitcoin, and most existing cryptocurrencies, is known to be largely energy wasteful due to the heavy computation it entails. In an effort to realize more sustainable blockchains, various “Proof of X” alternatives have been proposed. Among these, Proof of Stake (PoS) protocols appear to be the most popular and widely studied, with several heuristic deployments as well as academic proposals offering provable-security guarantees.
As a result of this prominent research effort, today we are presented with a number of PoS protocols offering distinct features, and promising security under different (or differently specified) security models. For instance, PoS protocols such as Algorand [1], Ouroboros and Ouroboros Praos [2], Snow White [3], and Fractal [4], designed by leading teams of cryptography researchers, all claim strong security and high performance. We are thus left with the question: Which one is “the best” PoS protocol?
Multiple thesis projects are available in this context. One line of work consists in a systematic comparison on the conceptual level (80% Theory - 20% Systems). Other projects may include an in-depth assessment of their features (100% theory), or an empirical evaluation of their performance (100% systems).
[1] Algorand paper, https://www.algorand.com
[2] Ouroboros paper, Ouroboros Praos paper, https://www.cardano.org
[3] Snow White paper
[4] Fractal whitepaper, https://www.fractalblock.com