Single-Tiered Hybrid PoW Consensus Protocol to Encourage Decentralization in Bitcoin
Gyu Chol Kim, Gang Han, Ryong Chol Kim, Yong Bok Jong, Nam Hyok Kim, Il Min Han, Ung Il Han · Security and Communication Networks · 2023
We propose a single-tiered hybrid proof-of-work consensus protocol to encourage decentralization in bitcoin. Our new mechanism comprises coupled puzzles from which properties differ from each other; the one is the extant outsourceable bitcoin puzzle while the other is nonoutsourceable. 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).