Proof-of-Work difficulty readjustment with genetic algorithm

Zi Hau Chin, Timothy Tzen Vun Yap, Ian K.T. Tan

    Research output: Chapter in Book/Report/Conference proceedingConference PaperResearch

    Abstract

    Blockchain is a decentralized, distributed and public digital ledger technology. It can be visualized as a gradually increasing list of “blocks” which contains data that are linked together using cryptographic hash. Each transaction is verified by several participating nodes to compute a complex mathematical problem. The complexity of this computation, also known as Proof-of-Work (PoW), is governed by the difficulty set on a periodic basis. If the hash rate of the blockchain’s PoW grows or declines exponentially, the blockchain will be unable to maintain the block creation interval. The utilization of genetic algorithm (GA) in addition with the existing difficulty adjustment algorithm is proposed as a response to this by optimizing the blockchain parameters. A simulation of 3 scenarios as well as the default, were performed and the results were recorded. Based on the results, we are able to observe that the blockchain is able to reach the expected block time 74.4% faster than the blockchain without GA. Moreover, the standard deviations of the average block time and difficulty decreased by 99.4% and 99.5% respectively when block and difficulty intervals were considered for optimization, when compared to the default blockchain without GA.

    Original languageEnglish
    Title of host publicationAdvances in Cyber Security - Second International Conference, ACeS 2020 Penang, Malaysia, December 8–9, 2020 Revised Selected Papers
    EditorsMohammed Anbar, Nibras Abdullah, Selvakumar Manickam
    Place of PublicationSingapore Singapore
    PublisherSpringer
    Pages11-26
    Number of pages16
    ISBN (Electronic)9789813368354
    ISBN (Print)9789813368347
    DOIs
    Publication statusPublished - 2021
    EventInternational Conference on Advances in Cyber Security 2020 - Penang, Malaysia
    Duration: 8 Dec 20209 Dec 2020
    Conference number: 2nd
    https://link.springer.com/book/10.1007/978-981-33-6835-4 (Proceedings)

    Publication series

    NameCommunications in Computer and Information Science
    PublisherSpringer
    Volume1347
    ISSN (Print)1865-0929
    ISSN (Electronic)1865-0937

    Conference

    ConferenceInternational Conference on Advances in Cyber Security 2020
    Abbreviated titleACeS 2020
    Country/TerritoryMalaysia
    CityPenang
    Period8/12/209/12/20
    Internet address

    Keywords

    • Bitcoin
    • Blockchain
    • Difficulty
    • Genetic algorithm
    • Proof-of-Work

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