{"document_id":"BLC-STUDY-0165","slug":"ni-pos","title":"Cryptocurrencies without Proof of Work","authors":"Iddo Bentov, Ariel Gabizon and Alex Mizrahi","year":2016,"date_label":"2016","publisher":"Iddo Bentov, Ariel Gabizon and Alex Mizrahi","paper_type":"Design paper","category":"Consensus","topics":["Consensus"],"source_url":"https://arxiv.org/pdf/1406.5694","source_label":"arXiv:1406.5694","legacy_pdf_path":null,"sha256":null,"sha256_note":"No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.","version":"Source cited by the 2016 study. The study is the reading. This page does not add a second essay.","doi":null,"rights_status":"Official external source only","source_status":"Official source","use_status":"Metadata and commentary only. The reading is the study page.","licence":null,"licence_label":"No licence recorded. Rights status under review.","full_text":null,"full_text_reason":"Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.","editorial_line":"The paper studies stake-based chain selection and the cost of signing every fork. It is one of the early formal attempts to replace work with a scarce key.","canonical_url":"https://blockchainlab.com/whitepaper/ni-pos","record_url":"https://blockchainlab.com/research/corpus/papers/ni-pos","study_url":"https://blockchainlab.com/whitepaper/ni-pos","last_reviewed":"2026-10-01","last_checked":"2026-10-01","relationships":[{"rel":"Canonical reading","label":"Nothing at stake study","href":"/whitepaper/ni-pos"},{"rel":"Related paper","label":"Cardano","href":"/whitepaper/ouroboros"},{"rel":"Related paper","label":"Sleepy Consensus","href":"/whitepaper/sleepy-consensus"}]}