Proof-of-experience: empowering proof-of-work protocol with miner previous work Online publication date: Tue, 08-Aug-2023
by Samuel Masseport; Benoît Darties; Rodolphe Giroudeau; Jorick Lartigau
International Journal of Blockchains and Cryptocurrencies (IJBC), Vol. 4, No. 2, 2023
Abstract: This paper proposes a substantial amendment to the existing Bitcoin consensus by using the wasted computation to adjust the difficulty of each miner that provided computation effort overtime. Therefore, any time a miner justifies its work toward the consensus and hence the network, without reaching the solution, then its difficulty will decrease accordingly for the next blocks. The impact of this adjustment is three-fold: 1) it allows to 'recycle' part of the energy previously spent in the computation of a previous block, which makes the system less energy consuming as a whole; 2) it also reduces the calculation time of a block and thus speeds up the validation of transactions; 3) it increases the loyalty of the actors by favouring the old miners who have been investing in the system for a long time, compared to a new entrant with a high computing power, who would monopolise all the rewards otherwise.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Blockchains and Cryptocurrencies (IJBC):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook