An Improved Consensus Mechanism for the Blockchain Based on Credit Rewards and Punishments

Abstract

In the traditional Proof of Stake (PoS), the share of the currency owned by the node, that is, the share of the equity, determines the probability that the node is selected as the representative node. In each round of the block generation, a node is selected as the creator of the next block by the verification, and the selected creator will pack appropriate transactions into the block and publish it on the blockchain. However, in the network with poor synchronization, the traditional PoS produces multiple verified representative nodes in each round, which generates multiple blocks. Then the blockchain is easy to produce the bifurcation. Aiming at the bifurcation problem of PoS, we propose an improved voting method based on credit rewards and punishments to vote on multiple blocks. The block is selected by considering the credibility of the creator, the count of the obtained comprehensive votes and the transaction value of the block. Thereby it can ensure the consistency and the fairness of the blockchain network. In the same time, the malicious node is found and voted to be removed in time by counting the number of invalid blocks generated by the nodes. It can ensure the security of the blockchain network.