Proof-of-Sovereignty (PoSv) As a Method to Achieve Distributed Consensus in Crypto-Currency Networks
15 Pages Posted: 2 Sep 2016 Last revised: 24 Sep 2016
Date Written: September 1, 2016
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' using PoSv is explained.
Keywords: Distributed Consensus, K-Y Protocol, Proof-of-Work
JEL Classification: A12, C60, C80, E51, E52, E58, F33, G18, L86, N40, O38
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