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

Hegadekatti, Kartik and S G, Yatish (2016): Proof-of-Sovereignty (PoSv) as a Method to Achieve Distributed Consensus in Crypto-Currency Networks. Published in: Development of Innovation eJournal , Vol. 4, No. 45 (27 September 2016)

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Distributed Consensus, K-Y Protocol, Proof-of-Work
• Subjects: A - General Economics and Teaching > A1 - General Economics > A12 - Relation of Economics to Other Disciplines; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C60 - General; C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C80 - General; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money Multipliers; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions; G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation; L - Industrial Organization > L8 - Industry Studies: Services > L86 - Information and Internet Services ; Computer Software; N - Economic History > N4 - Government, War, Law, International Relations, and Regulation > N40 - General, International, or Comparative; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O38 - Government Policy

References

[1] Hegadekatti, Kartik and S G, Yatish, Roadmap for a Controlled BlockChain Architecture (August 13, 2016).

[2] THE CODE BOOK: THE SCIENCE OF SECRECY FROM ANCIENT EGYPT TO QUANTUM CRYPTOGRAPHY; BY SIMON SINGH