On the trade-offs of Proof-of-Work algorithms in blockchains

被引：4
|
作者：
Chin, Zi Hau [1 ]
Yap, Timothy Tzen Vun [1 ]
Tan, Ian K. T. [1 ]
机构：
[1] Multimedia Univ, Persiaran Multimedia, Cyberjaya 63100, Malaysia
来源：
COMPUTATIONAL SCIENCE AND TECHNOLOGY (ICCST 2019) | 2020年 / 603卷
关键词：
Proof-of-Work; Blockchain; Bitcoin; Difficulty;
D O I：
10.1007/978-981-15-0058-9_55
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
There are many different protocols that regulate the way in which each node on a blockchain network is able to reach consensus that a newly created block is valid. One of the protocols, Proof-of-Work (PoW) gained popularity when it was implemented in a blockchain-based cryptocurrency known as Bitcoin. However, there are inherent deficiencies in its current implementation. This paper discusses these deficiencies, as well as the parameters that directly and indirectly affect its efficacy and performance so that possible enhancements to the protocol can be investigated.
引用
收藏
页码：575 / 584
页数：10
相关论文
共 50 条
  • [1] Analysis of the confirmation time in proof-of-work blockchains
    Malakhov, Ivan
    Marin, Andrea
    Rossi, Sabina
    FUTURE GENERATION COMPUTER SYSTEMS-THE INTERNATIONAL JOURNAL OF ESCIENCE, 2023, 147 : 275 - 291
  • [2] Difficulty Prediction for Proof-of-Work Based Blockchains
    Zheng, Kaiwen
    Zhang, Shulai
    Ma, Xiaoli
    PROCEEDINGS OF THE 21ST IEEE INTERNATIONAL WORKSHOP ON SIGNAL PROCESSING ADVANCES IN WIRELESS COMMUNICATIONS (IEEE SPAWC2020), 2020,
  • [3] Block Interval Adjustment Toward Fair Proof-of-Work Blockchains
    Kanda, Reiki
    Shudo, Kazuyuki
    2020 IEEE 36TH INTERNATIONAL CONFERENCE ON DATA ENGINEERING WORKSHOPS (ICDEW 2020), 2020, : 1 - 6
  • [4] Workflow Management on Proof-of-Work Blockchains: Implications and Recommendations
    Evermann J.
    Kim H.
    SN Computer Science, 2021, 2 (1)
  • [5] Approaches to Overpower Proof-of-Work Blockchains Despite Minority
    Baniata, Hamza
    Kertesz, Attila
    IEEE ACCESS, 2023, 11 : 2952 - 2967
  • [6] On Some Approaches to the Solution of the "Useful Proof-of-Work for Blockchains" Task
    Durnev, V. G.
    Murin, D. M.
    Sokolov, V. A.
    Chalyy, D. Ju.
    AUTOMATIC CONTROL AND COMPUTER SCIENCES, 2018, 52 (07) : 880 - 884
  • [7] Predicting Transaction Latency with Deep Learning in Proof-of-Work Blockchains
    Tedeschi, Enrico
    Nordmo, Tor-Arne S.
    Johansen, Dag
    Johansen, Havard D.
    2019 IEEE INTERNATIONAL CONFERENCE ON BIG DATA (BIG DATA), 2019, : 4223 - 4231
  • [8] Proof-of-work blockchains and settlement finality: a functional interpretation
    Wandhofer, Ruth
    Berndsen, Ron
    JOURNAL OF FINANCIAL MARKET INFRASTRUCTURES, 2019, 7 (04): : 71 - 104
  • [9] Control-oriented modelling of proof-of-work blockchains
    Leva, Alberto
    Strada, Silvia
    Tanelli, Mara
    2019 18TH EUROPEAN CONTROL CONFERENCE (ECC), 2019, : 2873 - 2878
  • [10] Partial pre-image attack on Proof-of-Work based blockchains
    Baniata, Hamza
    Kertesz, Attila
    BLOCKCHAIN-RESEARCH AND APPLICATIONS, 2024, 5 (03):
12345