Cryptocurrencies without Proof of Work

Understand

We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources.

• Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the system.
• We offer analysis of existing protocols that have a substantial amount of popularity.
• We then present our novel pure Proof of Stake protocols, and argue that they help in mitigating problems that the existing protocols exhibit.