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


Zi, Hau Chin and Yap, Timothy Tzen Vun and Tan, Ian Kim Teck (2019) On the trade-offs of Proof-of-Work algorithms in blockchains. In: ICCST 2019 - The Sixth International Conference on Computational Science and Technology, 29-30 August 2019, Hilton Hotel, Kota Kinabalu, Kota Kinabalu, Malaysia.

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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.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Proof-of-Work Blockchain Bitcoin Difficult
Subjects: Q Science > QA Mathematics > QA71-90 Instruments and machines > QA75.5-76.95 Electronic computers. Computer science
Divisions: Faculty of Computing and Informatics (FCI)
Depositing User: Ms Rosnani Abd Wahab
Date Deposited: 08 Nov 2021 12:41
Last Modified: 08 Nov 2021 12:41
URII: http://shdl.mmu.edu.my/id/eprint/9300


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