Composability Treatment of Bitcoin’s Transaction Ledger with Variable Difficulty
https://eprint.iacr.org/2024/1823.pdf
> As the first proof-of-work (PoW) permissionless blockchain, Bitcoin aims at maintaining
a decentralized yet consistent transaction ledger as protocol participants (“miners”) join and leave as
they please. This is achieved by means of a subtle PoW difficulty adjustment mechanism that adapts to
the perceived block generation rate, and important steps have been taken in previous work to provide
a rigorous analysis of the conditions (such as bounds on dynamic participation) that are sufficient for
Bitcoin’s security properties to be ascertained.
originally posted at https://stacker.news/items/766258
nym
npub1hn…whtl5
2024-11-13 18:25:35
Author Public Key
npub1hn4zhxzsd5w4m5kvq326gqnsrc6zcakhparw8pee4tw7wlxw70ysawhtl5Published at
2024-11-13 18:25:35Event JSON
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"content": "Composability Treatment of Bitcoin’s Transaction Ledger with Variable Difficulty\nhttps://eprint.iacr.org/2024/1823.pdf\n\n\u003e As the first proof-of-work (PoW) permissionless blockchain, Bitcoin aims at maintaining\na decentralized yet consistent transaction ledger as protocol participants (“miners”) join and leave as\nthey please. This is achieved by means of a subtle PoW difficulty adjustment mechanism that adapts to\nthe perceived block generation rate, and important steps have been taken in previous work to provide\na rigorous analysis of the conditions (such as bounds on dynamic participation) that are sufficient for\nBitcoin’s security properties to be ascertained.\n\noriginally posted at https://stacker.news/items/766258",
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