MWPoW - Multi-winner proof of work consensus protocol: An immediate block-confirm solution and an incentive for common devices to join blockchain

Publikation: Bidrag til bog/antologi/rapport › Konferencebidrag i proceedings › Forskning › fagfællebedømt

Standard

MWPoW - Multi-winner proof of work consensus protocol : An immediate block-confirm solution and an incentive for common devices to join blockchain. / Xu, Yibin; Huang, Yangyu.

Proceedings - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications. red. / Jinjun Chen; Laurence T. Yang. Institute of Electrical and Electronics Engineers Inc., 2019. s. 964-971 8672344.

Publikation: Bidrag til bog/antologi/rapport › Konferencebidrag i proceedings › Forskning › fagfællebedømt

Harvard

Xu, Y & Huang, Y 2019, MWPoW - Multi-winner proof of work consensus protocol: An immediate block-confirm solution and an incentive for common devices to join blockchain. i J Chen & LT Yang (red), Proceedings - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications., 8672344, Institute of Electrical and Electronics Engineers Inc., s. 964-971, 16th IEEE International Symposium on Parallel and Distributed Processing with Applications, 17th IEEE International Conference on Ubiquitous Computing and Communications, 8th IEEE International Conference on Big Data and Cloud Computing, 11th IEEE International Conference on Social Computing and Networking and 8th IEEE International Conference on Sustainable Computing and Communications, ISPA/IUCC/BDCloud/SocialCom/SustainCom 2018, Melbourne, Australien, 11/12/2018. https://doi.org/10.1109/BDCloud.2018.00141

APA

Xu, Y., & Huang, Y. (2019). MWPoW - Multi-winner proof of work consensus protocol: An immediate block-confirm solution and an incentive for common devices to join blockchain. I J. Chen, & L. T. Yang (red.), Proceedings - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications (s. 964-971). [8672344] Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/BDCloud.2018.00141

Vancouver

Xu Y, Huang Y. MWPoW - Multi-winner proof of work consensus protocol: An immediate block-confirm solution and an incentive for common devices to join blockchain. I Chen J, Yang LT, red., Proceedings - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications. Institute of Electrical and Electronics Engineers Inc. 2019. s. 964-971. 8672344 https://doi.org/10.1109/BDCloud.2018.00141

Author

Xu, Yibin ; Huang, Yangyu. / MWPoW - Multi-winner proof of work consensus protocol : An immediate block-confirm solution and an incentive for common devices to join blockchain. Proceedings - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications. red. / Jinjun Chen ; Laurence T. Yang. Institute of Electrical and Electronics Engineers Inc., 2019. s. 964-971

Bibtex

@inproceedings{15cefcc4afa74eb0939177af963ac388,
title = "MWPoW - Multi-winner proof of work consensus protocol: An immediate block-confirm solution and an incentive for common devices to join blockchain",
abstract = "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).",
keywords = "Blockchain, Distributed consensus, MWPoW, Proof of Work",
author = "Yibin Xu and Yangyu Huang",
note = "Publisher Copyright: {\textcopyright} 2018 IEEE.; 16th IEEE International Symposium on Parallel and Distributed Processing with Applications, 17th IEEE International Conference on Ubiquitous Computing and Communications, 8th IEEE International Conference on Big Data and Cloud Computing, 11th IEEE International Conference on Social Computing and Networking and 8th IEEE International Conference on Sustainable Computing and Communications, ISPA/IUCC/BDCloud/SocialCom/SustainCom 2018 ; Conference date: 11-12-2018 Through 13-12-2018",
year = "2019",
month = mar,
day = "20",
doi = "10.1109/BDCloud.2018.00141",
language = "English",
pages = "964--971",
editor = "Jinjun Chen and Yang, {Laurence T.}",
booktitle = "Proceedings - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications",
publisher = "Institute of Electrical and Electronics Engineers Inc.",

}

RIS

TY - GEN

T1 - MWPoW - Multi-winner proof of work consensus protocol

T2 - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications, 17th IEEE International Conference on Ubiquitous Computing and Communications, 8th IEEE International Conference on Big Data and Cloud Computing, 11th IEEE International Conference on Social Computing and Networking and 8th IEEE International Conference on Sustainable Computing and Communications, ISPA/IUCC/BDCloud/SocialCom/SustainCom 2018

AU - Xu, Yibin

AU - Huang, Yangyu

N1 - Publisher Copyright: © 2018 IEEE.

PY - 2019/3/20

Y1 - 2019/3/20

N2 - 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).

AB - 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).

KW - Blockchain

KW - Distributed consensus

KW - MWPoW

KW - Proof of Work

UR - http://www.scopus.com/inward/record.url?scp=85063892081&partnerID=8YFLogxK

U2 - 10.1109/BDCloud.2018.00141

DO - 10.1109/BDCloud.2018.00141

M3 - Article in proceedings

AN - SCOPUS:85063892081

SP - 964

EP - 971

BT - Proceedings - 16th IEEE International Symposium on Parallel and Distributed Processing with Applications

A2 - Chen, Jinjun

A2 - Yang, Laurence T.

PB - Institute of Electrical and Electronics Engineers Inc.

Y2 - 11 December 2018 through 13 December 2018

ER -

ID: 300914551