Paper 2023/084 Original: eprint.iacr.org/2023/084 ↗
Single-tiered hybrid PoW consensus protocol to encourage decentralization in bitcoin
Abstract
We propose a single-tiered hybrid Proof-of-Work consensus protocol to encourage decentralization in bitcoin. Our new mechanism comprises coupled puzzles of which properties differ from each other; the one is the extant outsourceable bitcoin puzzle while the other is non-outsourceable. 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)
Metadata
- Available format(s)
PDF- Category
- Applications
- Publication info
- Preprint.
- History
- 2023-01-24: last updated
- 2023-01-24: published
- Short URL
- https://ia.cr/2023/084
- License
- https://creativecommons.org/publicdomain/zero/1.0/
BibTeX
@misc{cryptoeprint:2023/084,
author = {GyuChol.Kim},
title = {Single-tiered hybrid PoW consensus protocol to encourage decentralization in bitcoin},
howpublished = {Cryptology {ePrint} Archive, Paper 2023/084},
year = {2023},
url = {https://eprint.iacr.org/2023/084}
}