Abstract
As interest in cryptocurrency has increased, problems have arisen with Proof-of-Work (PoW) and Proof-of-Stake (PoS) methods, the most representative methods of acquiring cryptocurrency in a blockchain. The PoW method is uneconomical and the PoS method can be easily monopolized by a few people. To cope with this issue, this paper introduces a Proof-of-Probability (PoP) method. The PoP is a method where each node sorts the encrypted actual hash as well as a number of fake hash, and then the first node to decrypt actual hash creates block. In addition, a wait time is used when decrypting one hash and then decrypting the next hash for restricting the excessive computing power competition. In addition, the centralization by validaters with many stakes can be avoided in the proposed PoP method.
| Original language | English |
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| Title of host publication | ASIACCS 2018 - Proceedings of the 2018 ACM Asia Conference on Computer and Communications Security |
| Publisher | Association for Computing Machinery, Inc |
| Pages | 841-843 |
| Number of pages | 3 |
| ISBN (Electronic) | 9781450355766 |
| DOIs | |
| Publication status | Published - 2018 May 29 |
| Externally published | Yes |
| Event | 13th ACM Symposium on Information, Computer and Communications Security, ASIACCS 2018 - Incheon, Korea, Republic of Duration: 2018 Jun 4 → 2018 Jun 8 |
Publication series
| Name | ASIACCS 2018 - Proceedings of the 2018 ACM Asia Conference on Computer and Communications Security |
|---|
Conference
| Conference | 13th ACM Symposium on Information, Computer and Communications Security, ASIACCS 2018 |
|---|---|
| Country/Territory | Korea, Republic of |
| City | Incheon |
| Period | 18/6/4 → 18/6/8 |
Bibliographical note
Publisher Copyright:© 2018 Association for Computing Machinery.
Keywords
- Blockchain
- Cryptocurrency
- Hash
- Nonce
- Sorting
- Transaction
ASJC Scopus subject areas
- Software
- Computer Science Applications
- Information Systems
- Computer Networks and Communications