MWPoW - Multi-Winner Proof of Work Consensus Protocol: An Immediate Block-Confirm Solution and an Incentive for Common Devices to Join Blockchain
Yibin Xu, Yangyu Huang · 2018
In this article, we present designs for a Multi Winner Proof of Work (MWPoW) consensus primitive. MWPoW is a consensus protocol that places the group mining idea directly into a protocol to prevent power centralization, higher general reward expectation among participants and shorten the interval time of block generation. It makes every miner a component of one of three groups assigned by the network, not as an individual competitor; all users in the winner group receive compensation. The hash difficulty is higher than ordinary blockchain because there are only three parties in the system. MWPoW powered block-chain is more secure from tampering. The blocks can be quickly final accepted without later block confirms, which makes it possible for block interval time to be minuteness. The experiment suggests the hash rate of MWPoW is around 1500 times larger than Nakamoto blockchain while it only requires about 1 second to finally accept a block in the lab environment (with 3-second block interval). MWPoW is universal profitable (the mining remuneration is much more distributed than Nakamoto block-chain).