Related papers: PHICOIN (PHI): The Proof of Work High-Performance …
Mining is a central operation of all proof-of-work (PoW) based cryptocurrencies. The vast majority of miners today participate in "mining pools" instead of "solo mining" in order to lower risk and achieve a more steady income. However, this…
The consensus protocol is the core of a blockchain system which guarantees its secure and stable operation. Proof of Activity (PoA) is a consensus protocol that tries to address some of the issues pertinent to the most widely used…
We introduce Auditable Proof-of-Work (APoW), a novel proof-of-work (PoW) construction inspired by Hashcash-style nonce searching, which enables the auditing of other miners' work through accountable re-scanning of the nonce space. The…
Bitcoin blockchain uses hash-based Proof-of-Work (PoW) that prevents unwanted participants from hogging the network resources. Anyone entering the mining game has to prove that they have expended a specific amount of computational power.…
Proof-of-Work (PoW) is a fundamental method in decentralized digital networks for establishing consensus on a shared ledger. By requiring network participants to solve a mathematical puzzle, PoW maintains network integrity. However, PoW has…
Hash-based Proof-of-Work (PoW) used in the Bitcoin Blockchain leads to high energy consumption and resource wastage. In this paper, we aim to re-purpose the energy by replacing the hash function with real-life problems having commercial…
The protocol for cryptocurrencies can be divided into three parts, namely consensus, wallet, and networking overlay. The aim of the consensus part is to bring trustless rational peer-to-peer nodes to an agreement to the current status of…
This article presents the first-ever blockchain which can simultaneously handle device and data security, which is important for the emerging Internet-of-Everything (IoE). This article presents a unique concept of blockchain that integrates…
Blockchain stores information into a chain of "blocks", whose integrity is usually guaranteed by Proof of Work (PoW). In many blockchain applications (including cryptocurrencies), users compete with each other to win the ownership of the…
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…
Proof of work (PoW), the most popular consensus mechanism for Blockchain, requires ridiculously large amounts of energy but without any useful outcome beyond determining accounting rights among miners. To tackle the drawback of PoW, we…
Most concurrent blockchain systems rely heavily on the Proof-of-Work (PoW) or Proof-of-Stake (PoS) mechanisms for decentralized consensus and security assurance. However, the substantial energy expenditure stemming from computationally…
The rise of computational power has led to unprecedented performance gains for deep learning models. As more data becomes available and model architectures become more complex, the need for more computational power increases. On the other…
In this publication, a novel architecture for Proof-of-Useful-Work blockchain consensus which aims to replace hash-based block problems with Monte Carlo simulation-based block problems to donate computational power to real-world HEP…
Proof-of-work(PoW) is an algorithmic tool used to secure networks by imposing a computational cost on participating devices. Unfortunately, traditional PoW schemes require that correct devices perform significant computational work in…
Bitcoin is the most successful cryptocurrency so far. This is mainly due to its novel consensus algorithm, which is based on proof-of-work combined with a cryptographically-protected data structure and a rewarding scheme that incentivizes…
The high electricity consumption of cryptocurrencies that rely on proof-of-work (PoW) consensus algorithms has raised serious environmental concerns due to its association with carbon emissions and strain on energy grids. There has been…
Blockchains rely on a consensus among participants to achieve decentralization and security. However, reaching consensus in an online, digital world where identities are not tied to physical users is a challenging problem. Proof-of-work…
Proof of work cryptocurrencies began with the promise of a more egalitarian future with a decentralized monetary system with no powerful entities in charge. While this vision is far from realized, these cryptocurrencies are still touted to…
Consensus mechanism is the core technology for blockchain to ensure that transactions are executed in sequence. It also determines the decentralization, security, and efficiency of blockchain. Existing mechanisms all have certain…