An ( Almost ) Constant-Effort Solution-Verification Proof-of-Work Protocol based on Merkle Trees ( extended and colored version of [ 7 ] )

Proof-of-work schemes are economic measures to deter denial-of-service attacks: service requesters compute moderately hard functions the results of which are easy to check by the provider. We present such a new scheme for solution-verification protocols. Although most schemes to date are probabilistic unbounded iterative processes with high variance of the… CONTINUE READING