A new ECDLP-based PoW model

TL;DR

This paper proposes a novel blockchain consensus mechanism based on solving discrete logarithm problems on elliptic curves, enhancing security by dynamically selecting cryptographically secure curves each epoch.

Contribution

It introduces an elliptic curve discrete logarithm problem-based proof of work model with pseudorandom curve selection, reducing trust in miners and scheme proposers.

Findings

Secure blockchain consensus via elliptic curve DLP

Dynamic, pseudorandom curve selection enhances security

Trustless verification of block validity

Abstract

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.