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PoSAT: Proof-of-Work Availability and Unpredictability, without the Work [article]

Soubhik Deb, Sreeram Kannan, David Tse
2021 arXiv   pre-print
An important feature of Proof-of-Work (PoW) blockchains is full dynamic availability, allowing miners to go online and offline while requiring only 50% of the online miners to be honest.  ...  An additional feature of PoSAT is the complete unpredictability of who will get to propose a block next, even by the winner itself.  ...  Introduction Dynamic Availability Nakamoto's invention of Bitcoin [23] in 2008 brought in the novel concept of a permissionless Proof-of-Work (PoW) consensus protocol.  ... 
arXiv:2010.08154v2 fatcat:3tl6pokfkndyjnt42rxkm7r7hy