Projects per year
Abstract
While cryptocurrencies and blockchain applications continue to gain popularity, their energy cost is evidently becoming unsustainable. In most instances, the main cost comes from the required amount of energy for the ProofofWork, and this cost is inherent to the design. In addition, useless costs from discarded work (e.g., the socalled Forks) and lack of scalability (in number of users and in rapid transactions) limit their practical effectiveness. In this paper, we present an innovative scheme which eliminates the nonce and thus the burden of the ProofofWork which is the main cause of the energy waste in cryptocurrencies such as Bitcoin. We prove that our scheme guarantees a tunable and bounded average number of simultaneous mining whatever the size of the population in competition, thus by making the use of noncebased techniques unnecessary, achieves scalability without the cost of consuming a large volume of energy. The technique used in the proof of our scheme is based on the analogy of the analysis of a green leader election. The additional difference with ProofofWork schemes (beyond the suppression of the nonce field that is triggering most of the waste), is the introduction of (what we denote as) “empty blocks” which aim are to call regular blocks following a staircase set of values. Our scheme reduces the risk of Forks and provides tunable scalability for the number of users and the speed of block generation. We also prove using game theoretical analysis that our scheme is resilient to unfair competitive investments (e.g., ”51 percent” attack) and block nursing.
Original language  English 

Pages (fromto)  126136 
Number of pages  11 
Journal  Computer Communications 
Volume  152 
DOIs  
Publication status  Published  15 Feb 2020 
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Projects


New Applications of Additive Combinatorics in Number Theory and Graph Theory
Mans, B., Shparlinski, I., MQRES, M. & PhD Contribution (ARC), P. C. (.
1/01/14 → 31/12/17
Project: Research