Paper 2023/084

Single-tiered hybrid PoW consensus protocol to encourage decentralization in bitcoin

GyuChol.Kim, Kim Chaek University of Technology
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.
Keywords
BitcoinProof-of-Workconsensusdecentralization
Contact author(s)
kgc841110 @ star-co net kp
History
2023-01-26: approved
2023-01-24: received
See all versions
Short URL
https://ia.cr/2023/084
License
No rights reserved
CC0

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},
      note = {\url{https://eprint.iacr.org/2023/084}},
      url = {https://eprint.iacr.org/2023/084}
}
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