Proof of Luck

Definition ∞ Proof of Luck is a consensus mechanism where the probability of a participant being chosen to propose the next block is proportional to their luck, typically determined by a verifiable random function (VRF) or similar cryptographic lottery. Unlike Proof of Work or Proof of Stake, it aims to reduce the influence of accumulated resources (hash power or stake) by introducing a significant random element. This approach seeks to enhance decentralization and resistance to concentration of power.
Context ∞ Proof of Luck is an experimental consensus mechanism explored in certain blockchain designs to achieve more equitable block production and prevent centralization. The primary debate concerns its security properties and resistance to various attacks, particularly compared to more established consensus protocols. Research into verifiable random functions and their practical implementation remains a key area of development for systems considering this approach.