Paper 2019/162

A New Blockchain Proposal Supporting Multi-Stage Proof-of-Work

Palash Sarkar

Abstract

We introduce a new variant of decentralised, trustless, permissionless blockchain. The main novelty is that the proof-of-work for mining a block is divided into multiple stages. An appropriate linkage structure is defined so that it becomes possible to simultaneously work on various stages of different blocks. The overall effect is an improvement in the transaction processing rate and the time for confirming a transaction. These are achieved without compromising on security. The division of the proof-of-work into several stages also divides the block reward into an equal number of stage rewards. Once a block gets onto the blockchain, the miner which successfully completed a particular stage can claim the reward for that stage. This ensures a more equitable distribution of the reward for successfully mining a block.

Metadata
Available format(s)
PDF
Category
Applications
Publication info
Preprint. MINOR revision.
Keywords
blockchainBitcoinpipelining
Contact author(s)
palash @ isical ac in
History
2021-07-13: last of 6 revisions
2019-02-20: received
See all versions
Short URL
https://ia.cr/2019/162
License
Creative Commons Attribution
CC BY

BibTeX

@misc{cryptoeprint:2019/162,
      author = {Palash Sarkar},
      title = {A New Blockchain Proposal Supporting Multi-Stage Proof-of-Work},
      howpublished = {Cryptology ePrint Archive, Paper 2019/162},
      year = {2019},
      note = {\url{https://eprint.iacr.org/2019/162}},
      url = {https://eprint.iacr.org/2019/162}
}
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