Trapdoor proof of work

Area of Science:

• Computer Science
• Distributed Systems
• Cryptography

Background:

• Consensus algorithms are vital for distributed decision-making.
• Byzantine fault-tolerant algorithms handle malicious entities, while crash fault-tolerant algorithms are for trusted environments.
• An intermediate scenario with both trusted and non-trusting entities is frequent yet underexplored.

Purpose of the Study:

• To propose an efficient consensus algorithm for scenarios involving a mix of trusted and non-trusting entities.
• To introduce a novel mining algorithm for Nakamoto consensus leveraging chameleon hash functions.

Main Methods:

• Development of a new consensus algorithm tailored for hybrid trust environments.
• Integration of chameleon hash functions into a Nakamoto consensus framework.
• Performance evaluation focusing on block generation speed and energy consumption.

Main Results:

• The proposed algorithm enables a trusted entity to achieve high throughput, generating tens of thousands of blocks per second.
• Efficient block generation is achievable even on low-power devices like personal laptops.
• Demonstrated feasibility for hybrid trust scenarios.

Conclusions:

• The novel consensus algorithm offers an efficient solution for intermediate trust scenarios.
• This approach is promising for centralized systems requiring temporary decentralization, such as central bank digital currencies.
• Enhanced service availability and performance are key benefits for critical applications.