Paper 2019/1081
OCEAN: A Built-In Replacement for Mining Pools
Raymond Chee, Kartik Chitturi, Edouard Dufour-Sans, and Kyle Soska
Abstract
We propose OCEAN, an alternative miner reward system for blockchains that seeks to discourage pooling by providing a pool's variance mitigation functionality as a blockchain built-in. Our proposal relies on Succinct, Non-interactive Arguments of Knowledge (SNARKs), an advanced modern cryptographic tool that enables anyone to prove complex statements with the proof not growing in size with the complexity of the statement. We expect that blockchains that implement our proposal would see less pooling centralization than what is currently observable in deployed cryptocurrencies.
Metadata
- Available format(s)
-
PDF
- Category
- Applications
- Publication info
- Preprint. MINOR revision.
- Keywords
- CryptocurrenciesMining PoolsRiskSNARKs.
- Contact author(s)
- e dufoursans @ gmail com
- History
- 2019-09-24: received
- Short URL
- https://ia.cr/2019/1081
- License
-
CC BY
BibTeX
@misc{cryptoeprint:2019/1081,
author = {Raymond Chee and Kartik Chitturi and Edouard Dufour-Sans and Kyle Soska},
title = {{OCEAN}: A Built-In Replacement for Mining Pools},
howpublished = {Cryptology {ePrint} Archive, Paper 2019/1081},
year = {2019},
url = {https://eprint.iacr.org/2019/1081}
}
