Ouroboros Praos is a proof of stake based blockchain protocol. One of its security
assumptions is parties are synchronized i.e., all of them knows when the protocol passes
a new state. However, it is not easy to have such a protocol in real life, especially in a
decentralized network. Therefore, we construct a new version of Ouroboros Praos by composing a new protocol called Relative Time protocol. We call the new version Ouroboros
Clepsydra. At the end of the relative time protocol, a party learns the approximate state
of the protocol based on the median of arrival times of messages sent by the other parties
and adjusts its local clock based on it. The relative time protocol does not add any new
computation to the other parties. They even do not realize that they are part of the relative time protocol. In order to prove Ouroboros Clepsydrain the Universally Composable
(UC) model, we de fine a general UC model to capture the notion of relative time. We
remove the synchronization assumption in Ouroboros Clepsydra and show that Ouroboros
Clepsydra is a secure proof of stake blockchain protocol in the UC model.