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Difficulty control for blockchain-based consensus systems
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DOI：10.1007/s12083-015-0347-x.png)
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摘要
En 中文
Crypto-currencies like Bitcoin have recently attracted a lot of interest. A crucial ingredient into such systems is the mining of a Nakamoto blockchain. We model mining as a Poisson process with time-dependent intensity and use this model to derive predictions about block times for various hash-rate scenarios (exponentially rising hash rate being the most important). We also analyse Bitcoin's method to update the network difficulty as a mechanism to keep block times stable. Since it yields systematically too fast blocks for exponential hash-rate growth, we propose a new method to update difficulty. Our proposed method performs much better at ensuring stable average block times over longer periods of time, which we verify both in simulations of artificial growth scenarios and with real-world data. Besides Bitcoin itself, this has practical benefits particularly for systems like Namecoin. It can be used to make name expiration times more predictable, preventing accidental loss of names.
Keyword:
Crypto-currency
Bitcoin mining
Namecoin
Nakamoto blockchain
Poisson process
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被引数:
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