Proof-of-Prestige: A Useful Work Reward System for Unverifiable Tasks

As cryptographic tokens and altcoins are increasingly being built to serve as utility tokens, the notion of useful work consensus protocols is becoming ever more important. With protocols, users get rewards after they have carried out some specific tasks for network. While in cases proof or service can be provided, majority impossible verify reliably. To deal with such cases, we design “Proof-of-Prestige” (PoP)—a reward system that run directly on Proof-of-Stake (PoS) blockchains a smart contract top Proof-of-Work (PoW) blockchains. PoP introduces “prestige,” which volatile resource that, contrast coins, regenerates over time. Prestige gained by performing work, spent when benefiting from services, translates minting power. Our scheme allows us reliably decentralized workers while keeping free end-users. resistant against Sybil collusion attacks used vast range unverifiable tasks. We build simulator assess cryptoeconomic behavior deploy full prototype content dissemination platform rewarding its participants. implement blockchain component both Ethereum Cosmos (PoS), provide mobile application, connect it our negligible memory footprint. Finally, adapt fair exchange protocol allowing atomically files also scenarios where not all parties Internet connectivity. evaluation shows even large traces, sub-millisecond computational overhead miners less than 0.013$ invocation cost Ethereum.