International Association for Cryptologic Research

International Association
for Cryptologic Research

IACR News item: 26 January 2023

GyuChol.Kim
ePrint Report ePrint Report
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 bitcoin, because it is backward-compatible with existing bitcoin mining equipment(more precisely, existing bitcoin mining ASICs)
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