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

See all articles by Kartik Hegadekatti

Kartik Hegadekatti

DoPT,Government of India

Yatish S G

Government of India, Ministry of Railways

Date Written: September 1, 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' 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

Suggested Citation

Hegadekatti, Kartik and S G, Yatish, Proof-of-Sovereignty (PoSv) As a Method to Achieve Distributed Consensus in Crypto-Currency Networks (September 1, 2016). Available at SSRN: https://ssrn.com/abstract=2833194 or http://dx.doi.org/10.2139/ssrn.2833194

Kartik Hegadekatti (Contact Author)

DoPT,Government of India ( email )

DoPT,North Block
New Delhi, Delhi 110001
India
+91-9483715544 (Phone)

HOME PAGE: http://hegadekatti.blogspot.in/

Yatish S G

Government of India, Ministry of Railways ( email )

1 Floor, Operations Division
DRM Office, Next to City Railway Station
BANGALORE, KARNATAKA 560023
India
9886601577 (Phone)
08022876111 (Fax)

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