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

GyuChol.Kim

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: Bitcoin Proof-of-Work consensus decentralization
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: 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},
      url = {https://eprint.iacr.org/2023/084}
}