A Korean translation of "Prospective Hybrid Consensus for Project PAI" by Mark Harvilla, Jincheng Du

02/07/2019
by   Mark Harvilla, et al.
0

PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double SHA-256 hashing protocol-- the same mechanism used by Bitcoin Core. This compatibility with classic Bitcoin-style mining provides low barrier to entry for PAI Coin mining, consequently rendering the PAI Coin network vulnerable to so-called 51 proposes a hybrid Proof-of-Work, Proof-of-Stake (PoS) consensus mechanism and provides a detailed technical analysis of how such a mechanism would counter some of the PAI Coin network's inherent vulnerabilities, if successfully implemented. A detailed technical outline of blockchain-based PoW & PoS consensus, including their advantages and disadvantages, when used both independently and in the context of the hybrid model, is provided. An economic analysis of attacking a hybrid-powered PAI Coin network is presented, and a final recommendation for future development of PAI Coin consensus is made.

READ FULL TEXT

Authors

page 7

02/07/2019

A Japanese translation of "Prospective Hybrid Consensus for Project PAI" by Mark Harvilla, Jincheng Du

PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double S...
02/07/2019

Prospective Hybrid Consensus for Project PAI

PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double S...
02/07/2019

A Simplified Chinese translation of "Prospective Hybrid Consensus for Project PAI" by Mark Harvilla, Jincheng Du

PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double S...
09/17/2018

Resisting Selfish Mining Attacks in the Bicomp

Selfish mining, which is an attack on the integrity of the Bitcoin netwo...
07/04/2019

Cryptocurrency Egalitarianism: A Quantitative Approach

Since the invention of Bitcoin one decade ago, numerous cryptocurrencies...
05/11/2019

Seele's New Anti-ASIC Consensus Algorithm with Emphasis on Matrix Computation

In this paper, we will present a new PoW consensus algorithm used in See...
06/22/2020

Time-Variant Proof-of-Work Using Error-Correction Codes

The protocol for cryptocurrencies can be divided into three parts, namel...
This week in AI

Get the week's most popular data science and artificial intelligence research sent straight to your inbox every Saturday.