Equitable Consensus: A PoS Mechanism based on Group Polynomial Election

PoS is a consensus mechanism where the probability of generating a block is directly proportional to a participant’s stake, but block generation rights concentrated in rich participants can lead to unfairness. Existing solutions mainly use linear consensus mechanisms where block generation rights are linked to the stake, but since these solutions fail to extend block generation rights to the majority of participants, compounding may occur. To address the problem, we propose a block producer selection method that extends block generation rights, called Grouped Polynomial Elections-based PoS (GPE-PoS). Specifically, GPE-PoS groups participants with similar stakes into independent groups, and performs polynomial calculations on the nodes in each group. Then GPE-PoS calculates the probability of block generation for each participant based on the polynomial calculations results and selects the participant with the highest probability as the block producer. At the same time, the Gini coefficient is used to measure the fairness of the blockchain system, where a Gini coefficient closer to 0 indicates higher fairness. Simulation results show that compared to linear consensus mechanisms based on stake, GPE-PoS has a stable Gini coefficient of around 0.1, which is an 83.33% reduction compared to traditional PoS.