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New Cryptocurrency Protocol without Proof of Work
| Content Provider | Semantic Scholar |
|---|---|
| Author | Kume, Junichiro Abe, Masayuki Okamoto, Tatsuaki |
| Copyright Year | 2015 |
| Abstract | The Bitcoin system has adopted a mechanism called Proof of Work (PoW), which contains certain requirements on the block generation. Protocols based on PoW require miners to solve difficult computational puzzles, that cause an issue of wasted electricity. Furthermore, the system has another problem about data storage. A public distributed ledger, called the block chain, logs all existing transactions. Miners must store the whole of it to verify the legitimacy of transactions. In SCIS2015 we proposed a lottery protocol for a cryptocurrency in which a block generator is randomly selected. In this paper we improve the protocol by increasing the efficiency of a method called follow-the-satoshi and reducing the size of the public ledger. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.ai.soc.i.kyoto-u.ac.jp/renkei/security/public_html/paper/SCIS2016_kume.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
