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Proof-of-vote, validators selected by people-vote

Johan Nygren;
Open Access
  • Publisher: Zenodo
Abstract
ABSTRACT: Proof-of-vote is a third generation of the Nakamoto consensus. With proof-of-vote, validators compete for people-votes, using proof-of-suffrage given by proof-of-person, and authorize transactions based on authority delegated by the consensus mechanism, just like proof-of-work or proof-of-stake. This logical conclusion of the Nakamoto consensus allows a “nation” of people to secure their own ledger, the equivalent of representative democracy for distributed ledger technology.
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