No reason to be afraid of modern cryptography for consensus

Nearly all cryptocurrency projects use asymmetric cryptography for signing transactions. All transactions are put into a block and the protocol must come to a consensus that decides whether the block will be eventually added to blockchain or not. The first consensus was Bitcoin PoW and currently PoS is on the rise. Both PoW and PoS consensus use cryptographic tools. However, many people believe that only the cryptographic tool used in PoW is a valid solution and any different approach cannot work within PoS. We would like to show you that there is no strong reason to believe that.

We do not want to explain to you how exactly cryptographic tools work or how they are used to solve a particular problem in a given project. We would like to highlight the basic principles of cryptography. You should understand why cryptography is secure and under which conditions. After that, we will show you how modern cryptography tools Verifiable Random Function and Key Evolving Signature can be used in Ouroboros PoS consensus.

Nevertheless, we have recently explained the basics of asymmetric cryptography and hashing for wallet users. It can help you to understand the basics: