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

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

GyuChol.Kim

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 …

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