Single-Tiered Hybrid PoW Consensus Protocol to Encourage Decentralization in Bitcoin

We propose a single-tiered hybrid proof-of-work consensus protocol to encourage decentralization in bitcoin. Our new mechanism comprises coupled puzzles from which properties differ from each other; the one is the extant outsourceable bitcoin puzzle while the other is nonoutsourceable. Our new proto...

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Veröffentlicht in:Security and communication networks 2023-07, Vol.2023, p.1-12
Hauptverfasser: Kim, Gyu Chol, Han, Gang Song, Kim, Ryong Chol, Jong, Yong Bok, Kim, Nam Hyok, Han, Il Min, Han, Ung Il
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Sprache:eng
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Zusammenfassung:We propose a single-tiered hybrid proof-of-work consensus protocol to encourage decentralization in bitcoin. Our new mechanism comprises coupled puzzles from which properties differ from each other; the one is the extant outsourceable bitcoin puzzle while the other is nonoutsourceable. Our new protocol enables miners to solve either puzzle as they want; therefore, blocks can be generated by either puzzle. Our hybrid consensus can be successfully implemented in bitcoin because it is backward-compatible with existing bitcoin mining equipment (more precisely, existing bitcoin mining ASICs).
ISSN:1939-0114
1939-0122
DOI:10.1155/2023/6169933