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Pravuil: Global Consensus for a United World

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  • David Cerezo S'anchez

Abstract

Pravuil is a robust, secure, and scalable consensus protocol for a permissionless blockchain suitable for deployment in an adversarial environment such as the Internet. Pravuil circumvents previous shortcomings of other blockchains: - Bitcoin's limited adoption problem: as transaction demand grows, payment confirmation times grow much lower than other PoW blockchains - higher transaction security at a lower cost - more decentralisation than other permissionless blockchains - impossibility of full decentralisation and the blockchain scalability trilemma: decentralisation, scalability, and security can be achieved simultaneously - Sybil-resistance for free implementing the social optimum - Pravuil goes beyond the economic limits of Bitcoin or other PoW/PoS blockchains, leading to a more valuable and stable crypto-currency

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  • David Cerezo S'anchez, 2021. "Pravuil: Global Consensus for a United World," Papers 2105.10464, arXiv.org.
    • Handle: RePEc:arx:papers:2105.10464
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    References listed on IDEAS

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    1. Eric Budish, 2018. "The Economic Limits of Bitcoin and the Blockchain," NBER Working Papers 24717, National Bureau of Economic Research, Inc.
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    4. Joshua S. Gans & Neil Gandal, 2019. "More (or Less) Economic Limits of the Blockchain," NBER Working Papers 26534, National Bureau of Economic Research, Inc.
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    Cited by:

    1. David Cerezo S'anchez, 2021. "JUBILEE: Secure Debt Relief and Forgiveness," Papers 2109.07267, arXiv.org.
    2. David Cerezo S'anchez, 2022. "Zero-Knowledge Optimal Monetary Policy under Stochastic Dominance," Papers 2210.06139, arXiv.org.

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