[Cryptography] A new, more efficient consensus protocol

[Vincent Strom]

Yes, indeed sybils are a problem. I acknowledge this multiple times in the paper. To get an unfair advantage, one can certainly create sybils. However, to do a double spend, one has to create more than 50%.

Some sort of personhood verification would be needed. CAPTCHAs do this job to some extent. But a determined attacker could perhaps beat this by solving a lot of them. Another way would be to require a certain balance in the account. This would effectively change proof of luck into proof of stake. But this new proof of stake has robustness (i.e. avoids nothing at stake problem) that is lacking in conventional proof of stake protocols. Identity verification can also be used but this needs to be accompanied by the use of stealth addresses to delink transactions from identity.

Regards,
Vincent
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