Proof of Assignment: An Economic Proof-of-Work Based Algorithm Performing Assignments in a Peer-Servicing Network

• Main Authors: Yu-ChiShen, 沈郁棋
• Other Authors: Sheng-Tzong Cheng
• Format: Others
• Language: en_US
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/30831670325128633805

碩士 === 國立成功大學 === 資訊工程學系 === 102 === Bitcoin is a universal crypto currency and a peer-to-peer payment system. Online payments can be sent directly from one party to another without going through a financial institution. “Mining” is a process to generate bitcoin, users offer their computing power to verify and record payments to reward transaction fees and newly created bitcoin. Mining of bitcoin is to solve proof of work puzzles that users need to expend a certain amount of computational capability to verify payments and prevent double-spending to manage the bitcoin network. However, the results of proof of work puzzles are meaningless values. With the rise of bitcoin, more and more computers join to mining bitcoin. Large amount of computational capability are wasted to compute the meaningless results. If we can integrate and use the computational capability of mining bitcoin to solve hard computational problems, the computational capability will be not considered wasteful but practical. In this paper, we propose and implement an economic proof-of-work based algorithm which combines proof of work mechanism and genetic algorithm in a peer-servicing network. Genetic algorithm is used to solve NP problems in mining process. Integrating the implementation of proof of assignment into bitcoin system, users can reward incentives by solving NP problems. With the advantages of peer-servicing network, the whole system will become a market serves as a computing platform for solving hard computational problems using genetic algorithm.