MaGPoS -- A novel decentralized consensus mechanism combining magnetism and proof of stake
Abstract
We describe MaGPoS, a novel consensus mechanism which is well suited to decentralized blockchain based protocols. MaGPoS is based on a combination of the well known physics of nano-scale magnetism, and previous implementations of proof of stake. This system has been studied by hundreds of thousands of scientists worldwide for over a hundred years, giving it an extreme level of reliability that is needed for a consensus mechanism. We start by explaining the physics, and study the properties that make it particularly beneficial for use in a consensus mechanism. We then show how to apply the physical model to a decentralized network of nodes, each with their own copy of a blockchain. After this, we describe some example calculations that a node in the decentralized network would make, and provide pseudo code for implementation. Finally, we discuss the how the model achieves all of the important properties that one expects of a consensus mechanism.
Keywords
Cite
@article{arxiv.1906.08176,
title = {MaGPoS -- A novel decentralized consensus mechanism combining magnetism and proof of stake},
author = {Tommy Mckinnon},
journal= {arXiv preprint arXiv:1906.08176},
year = {2019}
}