TY - JOUR

T1 - MWPoW

T2 - Multiple Winners Proof of Work Protocol, a Decentralisation Strengthened Fast-Confirm Blockchain Protocol

AU - Xu, Yibin

AU - Huang, Yangyu

N1 - Funding Information: -e authors appreciate the help from Zhan Tong Zhang from the Ecole polytechnique federale de Lausanne (EPFL). Publisher Copyright: © 2019 Yibin Xu and Yangyu Huang.

PY - 2019

Y1 - 2019

N2 - 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.

AB - 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.

UR - http://www.scopus.com/inward/record.url?scp=85076084499&partnerID=8YFLogxK

U2 - 10.1155/2019/3674274

DO - 10.1155/2019/3674274

M3 - Journal article

AN - SCOPUS:85076084499

VL - 2019

JO - Security and Communication Networks

JF - Security and Communication Networks

SN - 1939-0114

M1 - 3674274

ER -