Mobile Smart-Contract Lifecycle Governance with Incentivized Proof-of-Stake for Oligopoly-Formation Prevention

Permissionless blockchain-enabled smart contracts execute code in a distributed peer-to-peer network system and thereby overcome undesirable effects of system centralization. Smart contracts that use proof-of-stake (PoS) algorithms for the validation of transactions have advantages over proof-of-work (PoW) in that they use less electricity and perform faster. The disadvantage of PoS algorithms is the issue of nothing to stake and the emergence of staking oligopolies. Thus, significant stakeholders might be able to create an oligopoly as miners with significant stakes have the chance to validate the transaction in a dominant position. In current smart contracts, the adoption of mobile devices is another emerging trend to manage mobile smart contracts. The advantage is spreading of a democratization effect as a large number of stakers participate in transaction validation and thereby reduce the risk of oligopolies. In our work, we aim to improve the PoS algorithm to reduce oligopoly formation in smart contracts by addressing the need for creating mobile smart contracts that are governed by a mobile lifecycle management. Additionally, we enhance the scalability and performance of smart contracts by focusing specifically on ways to incentivize PoS algorithms.