A New ECDLP-Based PoW Model

Blockchain technology has attracted a lot of research interest in the last few years. Originally, their consensus algorithm was Hashcash, which is an instance of the so-called Proof-of-Work. Nowadays, there are several competing consensus algorithms, not necessarily PoW. In this paper, we propose an alternative proof of work algorithm which is based on the solution of consecutive discrete logarithm problems over the point group of elliptic curves. At the same time, we sketch a blockchain scheme, whose consensus is reached via our algorithm. 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.