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Proof-of-Sovereignty (PoSv) as a Method to Achieve Distributed Consensus in Crypto-Currency Networks

Author

Listed:
  • Hegadekatti, Kartik
  • S G, Yatish

Abstract

In this paper, a method to implement K-Y protocol using Distributed Consensus is discussed. Firstly, the various available methods are discussed. Then, Proof - Of - Sovereignty (PoSv) is proposed. Its mechanism is deliberated and its advantages are described vis-a-vis other methods of distributed consensus. Finally a summary of all the procedures involved in 'NationCoin Mining' is explained.

Suggested Citation

  • Hegadekatti, Kartik & S G, Yatish, 2016. "Proof-of-Sovereignty (PoSv) as a Method to Achieve Distributed Consensus in Crypto-Currency Networks," MPRA Paper 82072, University Library of Munich, Germany, revised 24 Sep 2016.
    • Handle: RePEc:pra:mprapa:82072
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    File URL: https://mpra.ub.uni-muenchen.de/82072/1/MPRA_paper_82072.pdf
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    Cited by:

    1. Hegadekatti, Kartik, 2017. "Analysis of Present Day Election Processes vis-à-vis Elections Through Blockchain Technology," MPRA Paper 82866, University Library of Munich, Germany.
    2. Hegadekatti, Kartik, 2017. "The K-Y Paradox: Problems in Creating a Centralised Sovereign Backed Cryptocurrency on a Decentralised Platform," MPRA Paper 82863, University Library of Munich, Germany.

    More about this item

    Keywords

    Distributed Consensus; K-Y Protocol; Proof-of-Work;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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