MWPoW: Multiple Winners Proof of Work Protocol, a Decentralisation Strengthened Fast-Confirm Blockchain Protocol
Blockchain mining should not be a game among power oligarchs. In this paper, we present the Multiple Winners Proof of Work Protocol (MWPoW), a mining-pool-like decentralised blockchain consensus protocol. MWPoW enables disadvantaged nodes which post only a small amount of calculation resource in the...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Hindawi-Wiley
2019-01-01
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| Series: | Security and Communication Networks |
| Online Access: | http://dx.doi.org/10.1155/2019/3674274 |
| Summary: | Blockchain mining should not be a game among power oligarchs. In this paper, we present the Multiple Winners Proof of Work Protocol (MWPoW), a mining-pool-like decentralised blockchain consensus protocol. MWPoW enables disadvantaged nodes which post only a small amount of calculation resource in the mining game to create blocks together and compete with power oligarchs without centralised representatives. A precise Support Rate of blocks can be determined through the mining process; the mechanism of the mainchain determination is therefore changed and has become faster and more straightforward. A method that periodically adjusts the block size and the block interval is introduced into MWPoW, which increases the system flexibility in the changes of network conditions and data flow. Experiments suggest, without lifting calculation and bandwidth requirements, MWPoW is more attractive to disadvantaged nodes due to its mostly increased reward expectation for disadvantaged nodes. The transaction pending time is shortened chiefly, and either the block interval or the block size can be adapted amid the changes of overall network conditions. |
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| ISSN: | 1939-0114 1939-0122 |