In the previous two articles, we introduced two core algorithms of the galaxy consensus, namely the random number generation algorithm and the blocker selection algorithm. These two algorithms ensure that the consensus process can proceed safely and steadily after the consensus participants have been identified. So how can we get all equity holders involved in the consensus process? This article will detail the delegation mechanism of the galaxy consensus.
1. Background design of the galaxy consensus commission mechanism
- Wanchain Galaxy Consensus Exploration 02 - Random Number Generation Algorithm
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- Analyze the consensus mechanism from an economic perspective: PoW is a diesel car and PoS is an electric car
- Depth | The bottom of the question, is PoS really better than PoW?
- Five major problems read through the PoA consensus algorithm
- What is the nature of Staking Economy?
There are already many PoS consensus mechanisms in the current blockchain industry. They are proposed by rigorous and meticulous academics, or by industries with rich experience, but they are generally lacking in practicality. Reflected in the following points:
- 1) The actual participation threshold is higher
On the one hand, although the PoS consensus protocol is different from PoW's high dependence on computing power, it also requires the participant nodes to have better computing power and network bandwidth, and can complete the protocol content in time, so PoS participants need to invest in certain hardware. Resources; on the other hand, PoS's principle of income distribution is "the greater the equity, the greater the return." The result of the combination of the two is that there is a higher threshold for participation in PoS, that is, only nodes with higher interests will have sufficient motivation to participate in PoS, and nodes with smaller interests will be higher than expected revenue due to participation in PoS. "Rejecting the door." Although this "threshold" is not in the PoS theoretical design, it is a reality.
- 2) Centralization risk
Due to the high participation threshold, only large equity owners can participate in the PoS consensus process to obtain consensus revenue. The consensus gains obtained will increase the equity gap between consensus participants and non-participants, and fall into the vicious circle of “the rich get richer and the poor get poorer”, which may eventually lead to the risk of consensus centralization.
- 3) Risk of violating the underlying security assumptions
The security foundation of almost all PoS consensus mechanisms is the honest majority assumption, that is, honest nodes account for the majority of the benefits of participating in the consensus agreement. This assumption is true for the entire blockchain network, but if the consensus participation threshold is high and only a small part of the equity can be absorbed into the consensus process, this assumption may not be true in the PoS consensus agreement. This is essentially a sampling problem, and when the sample size is small, it does not necessarily have an overall statistical character.
Therefore, how to design a mechanism can reduce the participation threshold of PoS and absorb more rights and interests into the consensus process as much as possible, which is of great significance to the practicality and security of the whole consensus.
2. The significance of the galaxy consensus entrustment mechanism
The galaxy consensus has fully considered the practicality of the agreement at the beginning of the design. This practicality is not only reflected in the computational and storage resources needed to reduce the consensus process, but more importantly, to ensure that participants in the consensus can participate smoothly throughout the process. The galaxy consensus has a complete delegation mechanism. Nodes with larger interests can participate directly in the consensus process, while nodes with smaller interests can participate in the consensus process through the delegation mechanism. In theory, any WAN holder can join the consensus process, which is the spirit of the PoS protocol and the embodiment of the galaxy consensus. Under this scheme, more WANs will join the consensus, making the entire network more secure and robust.
Therefore, the complete delegation mechanism reduces the threshold for PoS consensus participation, improves the practicability of the galaxy consensus, and has obvious advantages compared with other PoS consensus protocols.
3. The theoretical basis of the galaxy consensus delegation mechanism – proxy signature
A delegate signature is a special signature algorithm in cryptography that enables an individual, called a principal or original signer, to delegate his or her right to sign a message to another individual, the delegatee ( Proxy signer). The delegatee can calculate a delegate signature, and any individual with the original signer's public key can verify the validity of the signature. Strictly speaking, the proxy signature algorithm is a collection of multiple algorithms, including a standard digital signature algorithm (such as ECDSA), an algorithm for entrusting and accepting delegates, a proxy signature generation algorithm, and a proxy signature verification algorithm.
4. Process of the galaxy consensus delegation mechanism
The delegation mechanism of the galaxy consensus is based on the Triple ECDSA Proxy Signature algorithm, which was designed by the Wanchain theory team and is universal, secure and efficient. At the same time, combined with smart contracts, the galaxy consensus implements a complete delegation mechanism, enabling any WAN holder to join the galaxy consensus, maintain network security, and gain consensus revenue. Suppose Alice is a normal WAN holder, public-private key pair is; Bob is a galaxy consensus proxy node, public-private key pair is; Proxy_SC is a special smart contract used to verify and store related data in the delegation process. . Now Alice wants to entrust Bob to replace her own participation in the galaxy consensus. The specific process is as follows:
Step1: Alice locally enters his private key and Bob's public key into the triple ECDSA algorithm to generate a delegation certificate.
Step2: Alice constructs a transaction, sends the delegation certificate to Proxy_SC, and entrusts funds to be locked in Proxy_SC.
Step3: Proxy_SC verifies the legality of the proxy certificate issued by Alice, and generates the proxy public key and the entrusted certificate to be stored in the contract.
Step4: Bob parses the certificate stored in Proxy_SC and calculates the proxy private key by using its own private key.
Step 5: The proxy public key participates in the galaxy consensus as an independent identity, and Bob completes the consensus process by proxying the private key to obtain consensus revenue.
Step6: Consensus benefits are distributed between Alice and Bob according to the contractual agreement.
Step7: After the entrustment period ends, Proxy_SC will return the entrusted funds to the Alice account.
5. Advantages of the galaxy consensus delegation mechanism
- 1) Universality
The galaxy consensus entrustment scheme uses the ECDSA signature algorithm in standard signatures, entitlements, and delegate signatures. This algorithm is also widely used in the blockchain domain. It is fully compatible with existing blockchain technology architectures. Whether it is directly registered to join the consensus mechanism or through the delegation mechanism, the verification logic for the participants is completely consistent.
- 2) Non-interactive
The process of delegation is non-interactive, so there is no need to establish a secure communication channel between the principal and the agent node, and the delegation is completed completely through the chain transaction, which is more efficient in the consensus process.
- 3) High security
Some existing entrusting mechanisms often require the entrusting party to transfer funds into the agent node account, and the agent node directly participates in the consensus and completes the income distribution. This method is centralized, and it has a high requirement for the integrity of the agent node. It is prone to the phenomenon of “carrying money and running the road” and it is extremely safe for the security of the client. The commissioning mechanism of the galaxy consensus is implemented based on the cryptographic algorithm. The principal of the trustee is locked in the smart contract. The proxy node only obtains the right of the trustee to participate in the consensus, and does not have any control over the user funds, so it can fully protect the user. Financial security.
- 4) Open and transparent
In the galaxy consensus delegation mechanism, the entrusted process and the data of the agent nodes participating in the consensus are all stored in the chain, and all the data is transparent. On the one hand, it is guaranteed that the proxy node can distribute the consensus revenue fairly, and it can not be evil; on the other hand, it is convenient for the commissioner to identify the activity of the proxy node and select the appropriate proxy node.
The Wanwei Chain team will release the final interpretation of the Galaxy Consensus in the near future, " Wanchain Galaxy Consensus Exploration 05 – Economic Incentive Mechanism", so stay tuned.
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