IOHK | Ouroboros Genesis: A Provably Secure Proof-of-Stake Blockchain Protocol

Published on November 5, 2021

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Ouroboros Genesis – New research for Cardano

We’re very proud to announce Ouroboros Genesis, a new paper from the IOHK research team. This latest version of Ouroboros, the algorithm powering Cardano, is a step forward in the cryptography that powers cryptocurrency systems. In this video, filmed at the IOHK blockchain technology lab at the University of Edinburgh, Professor Kiayias explains the research.

For the first time, new users joining the blockchain can bootstrap from the genesis block, and do not need a checkpoint block or any prior knowledge of the number of users active in the system. This feature was previously not possible in proof of stake distributed ledgers while it was a hallmark of proof-of-work protocols. This means that Ouroboros can now match the security guarantees of proof-of-work protocols like Bitcoin in a way that was previously thought infeasible.

This advancement is the culmination of a research path that systematically tackled challenges in proof of stake, beginning with Ouroboros, progressing to Ouroboros Praos, and now reaching Ouroboros Genesis.

The Ouroboros research, led by Professor Aggelos Kiayias, IOHK Chief Scientist, has been developed with a rigorous discipline. Ouroboros was peer reviewed by the leading cryptography conference, Crypto 2017, and Ouroboros Praos is similarly due to be presented at sister event Eurocrypt 2018 next week. The research is being progressively implemented in Cardano.

Read the research paper “Composable Proof-of-Stake Blockchains with Dynamic Availability” here:

Ouroboros | IACR Crypto-2017

IOHK | Developing a secure proof of stake algorithm

Prof Aggelos Kiayias is the Chair in Cyber Security and Privacy at the University of Edinburgh. His research interests are in computer security, information security, applied cryptography and foundations of cryptography with a particular emphasis in blockchain technologies and distributed systems, e-voting and secure multiparty protocols as well as privacy and identity management. He joins IOHK as chief scientist through a long-term consulting agreement between IOHK and the University of Edinburgh, UK, where he is based and continues to do research and teach courses in cyber security and cryptography. Prof Kiayias is also Professor in Residence (gratis) at the University of Connecticut, USA, and Associate Professor of Cryptography and Security (on leave) at the National and Kapodistrian University of Athens, Greece.

Prof Kiayias’s cyber security research over the years has been funded by the Horizon 2020 programme (EU), the European Research Council (EU), the General Secretariat for Research and Technology (Greece), the National Science Foundation (USA), the Department of Homeland Security (USA), and the National Institute of Standards and Technology (USA). He has received an ERC Starting Grant, a Marie Curie fellowship, an NSF Career Award, and a Fulbright Fellowship. He holds a Ph.D. from the City University of New York and he is a graduate of the Department of Mathematics at the University of Athens. He has more than 100 publications in journals and conference proceedings in the area.

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