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JOURNALS // Intelligent systems. Theory and applications // Archive

Intelligent systems. Theory and applications, 2022 Volume 26, Issue 1, Pages 94–100 (Mi ista337)

Part 2. Mathematics and Computer Science

On a new algorithm for reaching consensus for stablecoins

È. È. Gasanov, M. B. Suyunbekova

Lomonosov Moscow State University, Faculty of Mechanics and Mathematics

Abstract: Cryptocurrencies, the price of which is tied to physical assets, are called stablecoins. This paper shows that for stablecoins, the use of a Proof-Of-Work consensus-building algorithm is impractical, because someone will have to pay for the hard work done to reach a consensus, and the amount of money in the system will decrease. This paper proposes a new consensus-building algorithm based on the lottery principle that can be used for stablecoins and for digital currencies of central banks.

Keywords: Cryptocurrencies, digital currencies of central banks, consensus building algorithms.



© Steklov Math. Inst. of RAS, 2024