Revisiting Democratic Mining in Bitcoins: Its Weakness and Possible Remedies

• Published in: Information Systems Security pp. 161 - 170
• Main Author: Paul, Goutam
• Format: Book Chapter
• Language: English
• Published: Cham Springer International Publishing 2015
• Series: Lecture Notes in Computer Science
• Subjects: Bitcoins; Cryptocurrency; Democratic mining; Electronic cash system; Miners; Proof-of-work

In ICISS 2014, Paul et al. identified several problems in the existing Proof-of-Work protocol for Bitcoin mining and proposed an alternative solution to generate blocks containing valid transactions. In their scheme, each miner generates a hash value locally and then the miners engage in a distribut...