In Proof-of-Work (PoW) blockchains, the average waiting time to generate ablock is inversely proportional to the computing power of the miner . A group of individual miners can form amining pool to aggregate their computing power to solve the puzzle together and share the reward contained in the block . But pooled mining undermines the core spirit of blockchain, i.e., the decentralization, and harms its security . To discourage the pooled mining, we develop a new consensus protocol called Proof of-Age (PoA) that builds uponthe native PoW protocol . We first employ a continuous time Markovchain (CTMC) to model the block generation process of the PoA based blockchain . We then analyze block generation rates of themining pool and solo miner respectively. Our analytical results verify thatunder PoA, the blockgeneration rates of miners in the mining pool are reduced. We then simulate the mining process in a PoA blockchain to demonstratethe consistency of the analytical results.Finally, we simulate the . PoABlockage process in PoA Blockage to demonstrate the . analysis of the PoA blockage process. To . demonstrate the

Author(s) : Long Shi, Taotao Wang, Jun Li, Shengli Zhang

Links : PDF - Abstract

Code :
Coursera

Keywords : poa - mining - blockchain - process - pow -

Leave a Reply

Your email address will not be published. Required fields are marked *