Proposal of Proof-of-Lucky-Id(PoL) to Solve the Problems of PoW and PoS

With Bitcoin, the legitimacy of a block of transaction data is verified by randomly selected nodes (hereinafter, verifiers) and notified to all nodes. To ensure the random selection of the verifier of each block, Proof of Works (PoW) is used. However, there is a serious problem with PoW, in that the amount of computation becomes huge. Although Proof of Stake (PoS) has been proposed to reduce the amount of computation, there remains the problem that if there is collusion among nodes, it is possible to control the probability of being the verifier. In this paper, a novel technique, Proof-of-Lucky-ID (PoL), is proposed. PoL is a kind of lottery that guarantees the randomness of the selection of the verifier, even if the node is collaborating unfairly, by using multiple digital signatures created by other nodes as input. Since this technique can determine the verifier with about two hash calculations per node, it significantly reduces the amount of processing compared with PoW, which requires more than 10 ^ 19 hash calculations as of 2017. In addition, since the input value cannot be controlled even if there is node collusion, it is impossible to control the probability of a win. Furthermore, compared to PoW and PoS, the certainty of consensus can be estimated with high accuracy in a short time. Numerical calculations show that both the randomness of verifier selection by the proposed method and the accuracy of the certainty of consensus range estimation are sufficiently high.