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Coin concentration of Proof-of-Stake blockchains

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  • Irresberger, Felix
  • Yang, Ruomei

Abstract

This paper studies the concentration of block production in selected Proof-of-Stake (PoS) blockchains and finds evidence consistent with participants entering and leaving the consensus process, thereby changing the concentration level, but not with disproportionate compounding of wealth for large stakes.

Suggested Citation

  • Irresberger, Felix & Yang, Ruomei, 2023. "Coin concentration of Proof-of-Stake blockchains," Economics Letters, Elsevier, vol. 229(C).
    • Handle: RePEc:eee:ecolet:v:229:y:2023:i:c:s0165176523002446
    DOI: 10.1016/j.econlet.2023.111219
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    References listed on IDEAS

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    1. Lin William Cong & Zhiguo He & Jiasun Li & Wei Jiang, 2021. "Decentralized Mining in Centralized Pools [Concentrating on the fall of the labor share]," The Review of Financial Studies, Society for Financial Studies, vol. 34(3), pages 1191-1235.
    2. Ioanid Roşu & Fahad Saleh, 2021. "Evolution of Shares in a Proof-of-Stake Cryptocurrency," Management Science, INFORMS, vol. 67(2), pages 661-672, February.
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    More about this item

    Keywords

    Blockchain; Proof-of-stake; Consensus; Decentralization;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets

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