{"title":"Single-tiered hybrid PoW consensus protocol to encourage decentralization in bitcoin","authors":"Gyu-Chol Kim","doi":"10.1155/2023/6169933","DOIUrl":null,"url":null,"abstract":"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).","PeriodicalId":13158,"journal":{"name":"IACR Cryptol. ePrint Arch.","volume":"31 1","pages":"84"},"PeriodicalIF":0.0000,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"IACR Cryptol. ePrint Arch.","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1155/2023/6169933","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
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).
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