Proof-of-Social-Capital: Privacy-Preserving Consensus Protocol Replacing Stake for Social Capital

• URL: http://arxiv.org/abs/2505.12144v1
• Date: Sat, 17 May 2025 21:28:56 GMT
• Title: Proof-of-Social-Capital: Privacy-Preserving Consensus Protocol Replacing Stake for Social Capital
• Authors: Juraj Mariani, Ivan Homoliak,
• Abstract summary: We propose a novel protocol using social capital as a non-transferable staking mechanism to ensure fairness and decentralization.<n>The theoretical framework would enhance privacy and equity, though unresolved issues like off-chain bribery require further research.
• Score: 1.7034813545878589
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: Consensus protocols used today in blockchains often rely on computational power or financial stakes - scarce resources. We propose a novel protocol using social capital - trust and influence from social interactions - as a non-transferable staking mechanism to ensure fairness and decentralization. The methodology integrates zero-knowledge proofs, verifiable credentials, a Whisk-like leader election, and an incentive scheme to prevent Sybil attacks and encourage engagement. The theoretical framework would enhance privacy and equity, though unresolved issues like off-chain bribery require further research. This work offers a new model aligned with modern social media behavior and lifestyle, with applications in finance, providing a practical insight for decentralized system development.

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