Ouroboros (protocol)

Ouroboros is a family of proof-of-stake blockchain consensus protocols that can run both permissionless and permissioned blockchains.[1]

This article is about the protocol. For other uses, see Ouroboros (disambiguation).
The ouroboros, Kekulé's inspiration for the structure of benzene. It is used to symbolize the ever-growing consensus on chain.

Ouroboros was first described by an academic team lead by Aggelos Kiayias at the Annual International Cryptology Conference in 2017.[2] Later that year, a stripped, permissioned variant called Ouroboros-BFT[3] was used by IOHK as the basis of the Cardano cryptocurrency platform.[4][5][6] Other versions include Ouroboros Praos.[7]

Cardano's founder Charles Hoskinson has described The Ouroboros consensus mechanism as energy efficient.[5] Nguyen et al compared Ouroboros to other PoS protocols.[8]

The blockchain project Polkadot has included parts of the Ouroboros protocol.[9]

References
  1. Robby Houben, Alexander Syners (2018) “Cryptocurrencies and blockchain. Legal context and implications for financial crime, money laundering, and tax evasion”. July. European Parliament Policy Department for Economic, Scientific, and Quality of Life Policies, Directorate-General for Internal Policies. https://www.europarl.europa.eu/cmsdata/150761/TAX3%20Study%20on%20cryptocurrencies%20and%20blockchain.pdf
  2. Kiayias A., Russell A., David B., Oliynykov R. (2017) “Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol”. In: Katz J., Shacham H. (eds) Advances in Cryptology – Crypto 2017. Springer, Cham. 27 July 2017. https://link.springer.com/chapter/10.1007%2F978-3-319-63688-7_12
  3. Aggelos Kiayias A., Russell A. (Oct 30, 2018). "Ouroboros-BFT: A Simple Byzantine Fault Tolerant Consensus Protocol". Cryptology ePrint Archive: Report 2018/1049. Retrieved November 23, 2020. https://eprint.iacr.org/2018/1049
  4. Hu, Charlotte net. "A beginner's guide to how cryptocurrencies work". Popular Science. Retrieved 2021-12-06.
  5. Ehrlich, Steven net. "Cardano And Ethereum Founder Analyzes The Newest Evolutions In Crypto And Blockchain Technology". Forbes. Retrieved 2021-12-06.
  6. "The Blockchain Galaxy A comprehensive research on distributed ledger technologies" (PDF). Deloitte. 6 May 2020. Retrieved 2021-12-07.
  7. David B., Gaži P., Kiayias A., Russell A. (2018) “Ouroboros Praos: An Adaptively-Secure, Semi-synchronous Proof-of-Stake Blockchain”. Advances in Cryptology – EUROCRYPT 2018. Springer, Cham. https://link.springer.com/chapter/10.1007/978-3-319-78375-8_3
  8. Cong T. Nguyen, Dinh Thai Hoang and Diep N. Nguyen (2019) "Proof-of-Stake Consensus Mechanisms for Future Blockchain Networks: Fundamentals, Applications and Opportunities", https://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=8746079
  9. Alper, Handan net. "BABE". W3F. Retrieved 2021-12-06.
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