Jul 2018
Journal of Database Management

Privacy‐Preserving Blockchain Mining: A Proof‐of‐Useful‐Work Consensus Scheme

Blockchains rely on a consensus among participants to achieve decentralization and security. However, reaching consensus in an online, digital world where identities are not tied to physical users is a challenging problem. Proof‐of‐work (PoW) provides a solution by linking representation to a valuable, physical resource. This has worked well, currently securing Bitcoin’s $100 B value. However, the Bitcoin network uses a tremendous amount of specialized hardware and energy, and since the utility of these resources is strictly limited to blockchain security, the resources used are not useful other purposes.
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Insolar Researchers

Hjalmar Turesson

Research Fellow
Toronto, CA

Marek Laskowski

Research Fellow
Toronto, CA

Henry Kim

Senior Research Fellow
Toronto, CA