Proof of Believability (PoBe)

This protocol substitutes PoW and PoS as they are expensive mechanisms to be adopted. PoBe is materialized by Internet of Service Token (IOST) in 2019. A node is trusted based on its previous contributions. An untradable token named SERVI is used in the IOST system to improve the fairness and decentralization of the BC. PoBe incentivizes the participants using SERVI tokens. SERVI measures the believability value associated with each user that indicates positive reviews regard- ing former behaviors. A higher believability value increases the chances for block creation. Tokens are awarded to the good actors to select the next validator. Each node in PoBe has a believability score based on previous node transactions, several positive reviews of a node, IOST’s amount in the node, and several awarded SERVI.