A new ECDLP-based PoW model
This addresses the need for secure and trustless consensus mechanisms in blockchain systems, though it appears incremental as it adapts existing cryptographic principles to a new context.
The paper tackles the problem of achieving decentralized consensus in blockchain by introducing a proof-of-work algorithm based on solving consecutive discrete logarithm problems over elliptic curve groups, with the result being a trustless system where curve selection is rigid and does not rely on miners or proposers.
We lay the foundations for a blockchain scheme, whose consensus is reached via a proof of work algorithm based on the solution of consecutive discrete logarithm problems over the point group of elliptic curves. In the considered architecture, the curves are pseudorandomly determined by block creators, chosen to be cryptographically secure and changed every epoch. Given the current state of the chain and a prescribed set of transactions, the curve selection is fully rigid, therefore trust is needed neither in miners nor in the scheme proposers.