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Consensus protocols inherently rely on the notion of leader election, inwhich one or a subset of participants are temporarily elected to authorize andannounce the network's latest state. While leader election is a well studiedproblem, the rise of distributed ledgers (i.e., blockchains) has led to a newperspective on how to perform large-scale leader elections via solving acomputationally difficult puzzle (i.e., proof of work). In this paper, wepresent Caucus, a large-scale leader election protocol with minimalcoordination costs that does not require the computational cost ofproof-of-work. We evaluate Caucus in terms of its security, using a new modelfor blockchain-focused leader election, before testing an implementation ofCaucus on an Ethereum private network. Our experiments highlight that onevariant of Caucus costs only $0.10 per leader election if deployed on Ethereum.

Winning the Caucus Race: Continuous Leader Election via Public Randomness