A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations

Jintai Ding

doi:10.1007/978-3-030-29729-9_5

A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations

Jintai Ding^*

^*Corresponding author for this work

University of Cincinnati

Research output: Chapter in Book or Report/Conference proceeding › Conference Proceeding › peer-review

9 Citations (Scopus)

Abstract

In this paper, we first present a theoretical analysis model on the Proof-of-Work (PoW) for cryptocurrency blockchain. Based on this analysis, we present a new type of PoW, which relies on the hardness of solving a set of random quadratic equations over the finite field GF(2). We will present the advantages of such a PoW, in particular, in terms of its impact on decentralization and the incentives involved, and therefore demonstrate that this is a new good alternative as a new type for PoW in blockchain applications.

Original language	English
Title of host publication	Applied Cryptography and Network Security Workshops - ACNS 2019 Satellite Workshops, SiMLA, Cloud S and P, AIBlock, and AIoTS 2019
Editors	Jianying Zhou, Robert Deng, Zhou Li, Suryadipta Majumdar, Weizhi Meng, Lingyu Wang, Kehuan Zhang
Publisher	Springer Verlag
Pages	97-107
Number of pages	11
ISBN (Print)	9783030297282
DOIs	https://doi.org/10.1007/978-3-030-29729-9_5
Publication status	Published - 2019
Externally published	Yes
Event	17th International Conference on Applied Cryptography and Network Security, ACNS 2019 - Bogota, Colombia Duration: 5 Jun 2019 → 7 Jun 2019

Publication series

Name	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume	11605 LNCS
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Conference

Conference	17th International Conference on Applied Cryptography and Network Security, ACNS 2019
Country/Territory	Colombia
City	Bogota
Period	5/06/19 → 7/06/19

Keywords

Blockchain
Cryptocurrency
Decentralization
Multivariate
NP-hard
Proof-of-Work
Quadratic

Access to Document

10.1007/978-3-030-29729-9_5

Cite this

Ding, J. (2019). A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations. In J. Zhou, R. Deng, Z. Li, S. Majumdar, W. Meng, L. Wang, & K. Zhang (Eds.), Applied Cryptography and Network Security Workshops - ACNS 2019 Satellite Workshops, SiMLA, Cloud S and P, AIBlock, and AIoTS 2019 (pp. 97-107). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 11605 LNCS). Springer Verlag. https://doi.org/10.1007/978-3-030-29729-9_5

Ding, Jintai. / A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations. Applied Cryptography and Network Security Workshops - ACNS 2019 Satellite Workshops, SiMLA, Cloud S and P, AIBlock, and AIoTS 2019. editor / Jianying Zhou ; Robert Deng ; Zhou Li ; Suryadipta Majumdar ; Weizhi Meng ; Lingyu Wang ; Kehuan Zhang. Springer Verlag, 2019. pp. 97-107 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)).

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abstract = "In this paper, we first present a theoretical analysis model on the Proof-of-Work (PoW) for cryptocurrency blockchain. Based on this analysis, we present a new type of PoW, which relies on the hardness of solving a set of random quadratic equations over the finite field GF(2). We will present the advantages of such a PoW, in particular, in terms of its impact on decentralization and the incentives involved, and therefore demonstrate that this is a new good alternative as a new type for PoW in blockchain applications.",

keywords = "Blockchain, Cryptocurrency, Decentralization, Multivariate, NP-hard, Proof-of-Work, Quadratic",

author = "Jintai Ding",

note = "Publisher Copyright: {\textcopyright} Springer Nature Switzerland AG 2019.; 17th International Conference on Applied Cryptography and Network Security, ACNS 2019 ; Conference date: 05-06-2019 Through 07-06-2019",

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doi = "10.1007/978-3-030-29729-9_5",

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Ding, J 2019, A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations. in J Zhou, R Deng, Z Li, S Majumdar, W Meng, L Wang & K Zhang (eds), Applied Cryptography and Network Security Workshops - ACNS 2019 Satellite Workshops, SiMLA, Cloud S and P, AIBlock, and AIoTS 2019. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 11605 LNCS, Springer Verlag, pp. 97-107, 17th International Conference on Applied Cryptography and Network Security, ACNS 2019, Bogota, Colombia, 5/06/19. https://doi.org/10.1007/978-3-030-29729-9_5

A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations. / Ding, Jintai.
Applied Cryptography and Network Security Workshops - ACNS 2019 Satellite Workshops, SiMLA, Cloud S and P, AIBlock, and AIoTS 2019. ed. / Jianying Zhou; Robert Deng; Zhou Li; Suryadipta Majumdar; Weizhi Meng; Lingyu Wang; Kehuan Zhang. Springer Verlag, 2019. p. 97-107 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 11605 LNCS).

Research output: Chapter in Book or Report/Conference proceeding › Conference Proceeding › peer-review

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AB - In this paper, we first present a theoretical analysis model on the Proof-of-Work (PoW) for cryptocurrency blockchain. Based on this analysis, we present a new type of PoW, which relies on the hardness of solving a set of random quadratic equations over the finite field GF(2). We will present the advantages of such a PoW, in particular, in terms of its impact on decentralization and the incentives involved, and therefore demonstrate that this is a new good alternative as a new type for PoW in blockchain applications.

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KW - Cryptocurrency

KW - Decentralization

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KW - NP-hard

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KW - Quadratic

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A2 - Li, Zhou

A2 - Majumdar, Suryadipta

A2 - Meng, Weizhi

A2 - Wang, Lingyu

A2 - Zhang, Kehuan

PB - Springer Verlag

T2 - 17th International Conference on Applied Cryptography and Network Security, ACNS 2019

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Ding J. A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations. In Zhou J, Deng R, Li Z, Majumdar S, Meng W, Wang L, Zhang K, editors, Applied Cryptography and Network Security Workshops - ACNS 2019 Satellite Workshops, SiMLA, Cloud S and P, AIBlock, and AIoTS 2019. Springer Verlag. 2019. p. 97-107. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). doi: 10.1007/978-3-030-29729-9_5

A New Proof of Work for Blockchain Based on Random Multivariate Quadratic Equations

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Keywords

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