Since its inception,bitcoin has used the popular consensus protocol proof-of-work(PoW).PoW has a well-known flaw:it distributes all rewards to a single miner(or pool)who inserts a new block.Consequently,the variance o...Since its inception,bitcoin has used the popular consensus protocol proof-of-work(PoW).PoW has a well-known flaw:it distributes all rewards to a single miner(or pool)who inserts a new block.Consequently,the variance of rewards and the mining enter-prise risk are extremely high.In 2016,Shi proposed addressing this problem with a theoretical algorithm.We introduce an easily-implemented PoW variant that improves Shi’s idea.The network must not find a single nonce but a few to insert a block.This simple change allows for a fairer distribution of rewards and also has the effect of regularizing the insertion time of blocks.This method would facilitate the emergence of small pools or autonomous miners.展开更多
文摘Since its inception,bitcoin has used the popular consensus protocol proof-of-work(PoW).PoW has a well-known flaw:it distributes all rewards to a single miner(or pool)who inserts a new block.Consequently,the variance of rewards and the mining enter-prise risk are extremely high.In 2016,Shi proposed addressing this problem with a theoretical algorithm.We introduce an easily-implemented PoW variant that improves Shi’s idea.The network must not find a single nonce but a few to insert a block.This simple change allows for a fairer distribution of rewards and also has the effect of regularizing the insertion time of blocks.This method would facilitate the emergence of small pools or autonomous miners.
