Miner ID: Facilitating bitcoin as a service

نویسندگان

چکیده

Block production in Bitcoin, often referred to as mining, is becoming increasingly industrialized. Many nodes the network are represented by registered business entities. The concept of Bitcoin a Service also pushing industry become more customer oriented. Services such transaction validation, status query or notification, and blockchain data indexing high demand among application providers users. As service providers, need distinguish themselves from others be identifiable. In this article, we introduce an efficient self-established identity system, called Miner ID, enable publicly It based on economic investment active participation network. Moreover, ID optional for nodes, it does not affect consensus mechanism We explore use cases including instant confirmation, attestation, public key infrastructure, token recovery. can used secure communication with applications, services, users peers.

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Exploring Miner Evolution in Bitcoin Network

In recent years, Bitcoin, a peer-to-peer network based crypto digital currency, has attracted a lot of attentions from the media, the academia, and the general public. A user in Bitcoin network can create Bitcoins by packing and verifying new transactions in the network using their computation power. Driven by the price surge of Bitcoin, users are increasingly investing on expensive specialized...

متن کامل

The Future of Bitcoin as a Tool for Financial Development

The purpose of research is focused on the insight into the future of Bitcoin on the financial situation, its implications and challenges. The problem of study is to investigate how to deal with a new type of digital currencies (such Bitcoin) that does not have a physical presence and there is no specific body to issue. Thus, this study aims to identify the nature of Bitcoin currency and what ar...

متن کامل

Bitcoin Mining as a Contest

This paper presents a simple game theoretic framework, assuming complete information, to model Bitcoin mining activity. It does so by formalizing the activity as an all-pay contest: a competition where participants contend with each other to win a prize by investing in computational power, and victory is probabilistic. With at least two active miners, the unique pure strategy Nash equilibrium o...

متن کامل

Bitcoin as Money ?

The spectacular rise late last year in the price of bitcoin, the dominant virtual currency, has attracted much public attention as well as scholarly interest. This policy brief discusses how some features of bitcoin, as designed and executed to date, have hampered its ability to perform the functions required of a fiat money––as a medium of exchange, unit of account, and store of value. Further...

متن کامل

When Money Learns to Fly: Towards Sensing as a Service Applications Using Bitcoin

Sensing-as-a-Service (S2aaS) is an emerging Internet of Things (IOT) business model pattern. To be technically feasible and to effectively allow for broad adoption, S2aaS implementations have to overcome manifold systemic hurdles, specifically regarding payment and sensor identification. In an effort to overcome these hurdles, we propose Bitcoin as protocol for S2aaS networks. To lay the ground...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Frontiers in blockchain

سال: 2023

ISSN: ['2624-7852']

DOI: https://doi.org/10.3389/fbloc.2023.1205491