Valuable Puzzles for Proofs-of-Work
Journal article, Peer reviewed
Accepted version
Åpne
Permanent lenke
http://hdl.handle.net/11250/2594476Utgivelsesdato
2018Metadata
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Originalversjon
Lecture Notes in Computer Science. 2018, 11025 130-139. 10.1007/978-3-030-00305-0_10Sammendrag
Proof-of-work (PoW) is used as the consensus mechanism in most cryptocurrencies. PoW-based puzzles play an important part in the operation and security of a cryptocurrency, but come at a considerable energy cost. One approach to the problem of energy wastage is to find ways to build PoW schemes from valuable computational problems. This work proposes calibration of public key cryptographic systems as a suitable source of PoW puzzles. We describe the properties needed to adapt public key cryptosystems as PoW functions suitable for decentralised cryptocurrencies and provide a candidate example.