An Incentivization Mechanism with Validator Voting Profile in Proof-of-Stake-Based Blockchain

Abstract

SUMMARY The Proof of Stake (PoS) protocol is one of the consensus algorithms for blockchain, in which the integrity of a new block is validated according to voting by nodes called validators. However, due to validator-oriented voting, voting results are likely to be false when the number of validators with wrong votes increases. In the PoS protocol, validators are motivated to vote correctly by reward and penalty mechanisms. With such mechanisms, validators who contribute to correct consensuses are rewarded, while those who vote incorrectly are penalized. In this paper, we consider an incentivization mechanism based on the voting profile of a validator, which is estimated from the voting history of the validator. In this mechanism, the stake collected due to the penalties are redistributed to validators who vote correctly, improving the incentive of validators to contribute to the system. We evaluate the performance of the proposed mechanism by computer simulations, investigating the impacts of system parameters on the estimation accuracy of the validator profile and the amount of validator’s stake. Numerical results show that the proposed mechanism can estimate the voting profile of a validator accurately even when the voting profile dynamically changes. It is also shown that the proposed mechanism gives more reward to validators who vote correctly with high voting profile.