Blockchain research and development company IOHK announced this week that its research paper describing Ouroboros, its Proof-of-stake protocol, has been accepted to Crypto 2017, a leading academic conference in cryptography taking place in Santa Barbara Aug. 20-24.
Ouroboros was developed to provide efficient and secure blockchains which are capable of processing more transactions. It was created by IOHK chief scientist Aggelos Kiayias who is the chair in cybersecurity and privacy at the University of Edinburgh’s School of Informatics and the director of the school’s Blockchain Technology Laboratory.
“Building a secure Proof-of-Stake blockchain is an important open problem and I am very happy that we will share our progress towards its resolution with fellow cryptographers at Crypto this year,” Professor Kiayias said. “In Ouroboros, we flesh out for the first time the combinatorial nature of proving the security of Proof of Stake blockchain protocols and I anticipate that our methodology will be valuable widely to blockchain researchers.
“By developing a provably secure Proof-of-Stake protocol, we can now confidently build a blockchain that can handle many more users, resolving many of the scalability and performance issues faced by proof-of-work based protocols like Bitcoin. We have already implemented Ouroboros and tested it with a cloud deployment with very good results.”
Scalable Randomness Attested by Public Entities, another IOHK paper, is also being peer reviewed at the 15th annual International Conference on Applied Cryptography and Networks Security.