Work

A New ECDLP-Based PoW Model

Year: 2020

Type: article

Abstract: Blockchain technology has attracted a lot of research interest in the last few years. Originally, their consensus algorithm was Hashcash, which is an instance of the so-called Proof-of-Work. Nowadays, there are several competing consensus algorithms, not necessarily PoW. In this paper, we propose an alternative proof of work algorithm which is based on the solution of consecutive discrete logarithm problems over the point group of elliptic curves. At the same time, we sketch a blockchain scheme, whose consensus is reached via our algorithm. In the considered architecture, the curves are pseudorandomly determined by block creators, chosen to be cryptographically secure and changed every epoch. Given the current state of the chain and a prescribed set of transactions, the curve selection is fully rigid, therefore trust is needed neither in miners nor in the scheme proposers.

Source: Mathematics

DOI: 10.3390/math8081344

Authors: Alessio Meneghetti, Massimiliano Sala, Daniele Taufer

Institution: University of Trento

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

Open Access status: gold

Estimated APC paid: $1,267

Funder: European Social Fund