Abstract
Consensus protocols are the crux of a proof of stake based blockchain system. It is the core of a blockchain that enables decentralization in a network replacing the central governing entity in a regular transactional network. While Technological advancements of the modern world have bolstered security and scalability, achieving true decentralization continues to be a challenge. Traditional proof of stake consensus protocols often led to centralization of high-staking participants influencing the network with their behavior. In addressing this issue, we propose a novel proof of stake-based consensus protocol that improves the traditional protocol in dealing with the centralization problem. We introduce a hash power-based consensus protocol that aims for an equitable distribution of participation and incentive opportunities. We raised the decentralization factor by extending a 'hash power' metric, which is calculated from the minted and native stakes of a participant. This hash power-based method helps keep the blockchain open and inclusive while maintaining decentralization without compromising on security and performance.