Proof-of-personhood: Redemocratizing permissionless cryptocurrencies

M. Borge, E. Kokoris Kogias, P. Jovanovic, L. Gasser, N. Gailly, B. Ford, in:, 2017 IEEE European Symposium on Security and Privacy Workshops, IEEE, 2017.

Download
No fulltext has been uploaded. References only!

Conference Paper | Published | English
Author
Borge, Maria; Kokoris Kogias, LefterisIST Austria; Jovanovic, Philipp; Gasser, Linus; Gailly, Nicolas; Ford, Bryan
Abstract
Permissionless blockchain-based cryptocurrencies commonly use proof-of-work (PoW) or proof-of-stake (PoS) to ensure their security, e.g. to prevent double spending attacks. However, both approaches have disadvantages: PoW leads to massive amounts of wasted electricity and re-centralization, whereas major stakeholders in PoS might be able to create a monopoly. In this work, we propose proof-of-personhood (PoP), a mechanism that binds physical entities to virtual identities in a way that enables accountability while preserving anonymity. Afterwards we introduce PoPCoin, a new cryptocurrency, whose consensus mechanism leverages PoP to eliminate the dis-advantages of PoW and PoS while ensuring security. PoPCoin leads to a continuously fair and democratic wealth creation process which paves the way for an experimental basic income infrastructure.
Publishing Year
Date Published
2017-06-30
Proceedings Title
2017 IEEE European Symposium on Security and Privacy Workshops
Article Number
7966966
Conference
EuroS&PW: European Symposium on Security and Privacy Workshops
Conference Location
Paris, France
Conference Date
2017-04-26 – 2017-04-28
IST-REx-ID

Cite this

Borge M, Kokoris Kogias E, Jovanovic P, Gasser L, Gailly N, Ford B. Proof-of-personhood: Redemocratizing permissionless cryptocurrencies. In: 2017 IEEE European Symposium on Security and Privacy Workshops. IEEE; 2017. doi:10.1109/eurospw.2017.46
Borge, M., Kokoris Kogias, E., Jovanovic, P., Gasser, L., Gailly, N., & Ford, B. (2017). Proof-of-personhood: Redemocratizing permissionless cryptocurrencies. In 2017 IEEE European Symposium on Security and Privacy Workshops. Paris, France: IEEE. https://doi.org/10.1109/eurospw.2017.46
Borge, Maria, Eleftherios Kokoris Kogias, Philipp Jovanovic, Linus Gasser, Nicolas Gailly, and Bryan Ford. “Proof-of-Personhood: Redemocratizing Permissionless Cryptocurrencies.” In 2017 IEEE European Symposium on Security and Privacy Workshops. IEEE, 2017. https://doi.org/10.1109/eurospw.2017.46.
M. Borge, E. Kokoris Kogias, P. Jovanovic, L. Gasser, N. Gailly, and B. Ford, “Proof-of-personhood: Redemocratizing permissionless cryptocurrencies,” in 2017 IEEE European Symposium on Security and Privacy Workshops, Paris, France, 2017.
Borge M, Kokoris Kogias E, Jovanovic P, Gasser L, Gailly N, Ford B. 2017. Proof-of-personhood: Redemocratizing permissionless cryptocurrencies. 2017 IEEE European Symposium on Security and Privacy Workshops. EuroS&PW: European Symposium on Security and Privacy Workshops
Borge, Maria, et al. “Proof-of-Personhood: Redemocratizing Permissionless Cryptocurrencies.” 2017 IEEE European Symposium on Security and Privacy Workshops, 7966966, IEEE, 2017, doi:10.1109/eurospw.2017.46.

Export

Marked Publications

Open Data IST Research Explorer

Search this title in

Google Scholar