• Corpus ID: 19568615

Proofs of Work for Blockchain Protocols

  title={Proofs of Work for Blockchain Protocols},
  author={Juan A. Garay and Aggelos Kiayias and Giorgos Panagiotakos},
  journal={IACR Cryptol. ePrint Arch.},
One of the most impactful applications of proofs of work (POW) currently is in the design of blockchain protocols such as Bitcoin. Yet, despite the wide recognition of POWs as the fundamental cryptographic tool in this context, there is no known cryptographic formulation that implies the security of the Bitcoin blockchain protocol. Indeed, all previous works formally arguing the security of the Bitcoin protocol relied on direct proofs in the random oracle model, thus circumventing the di culty… 

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