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1. A network-dependent rewarding system: proof-of-mining (http://arxiv.org/abs/1409.7948)
A soft control of the network activity through varying reward in a proof-of-work (PoW) cryptocurrency is reported. Rewards are the necessity to incent the contributors activities (i.e., mining) in order to maintain the PoW network. Contrary to constant rewarding in a certain period implemented in most of cryptocurrency, such as bitcoin, we propose a network-dependent rewarding model system, primarily including two phases: 1) activities encouraging phase in which higher rewards are issued at higher network activities; and 2) discouraging further increase of activities by reducing rewards. The advantages of this system include 1) fair distribution of rewards among a variety of contributors, and 2) enforcing a limit to the network activity and hence the cost of maintaining the PoW network. This mechanism requires network contributors to show their participation in order to earn maximum rewards, i.e., proof-of-mining.
http://arxiv.org/abs/1409.7948
Available online now. Although arxiv is an e-prints, it has received paramount attention in the academy:
http://en.wikipedia.org/wiki/ArXiv
Available online now. Although arxiv is an e-prints, it has received paramount attention in the academy:
http://en.wikipedia.org/wiki/ArXiv
Quote
Begun on August 14, 1991, arXiv.org passed the half-million article milestone on October 3, 2008.[2][3] By 2012 the submission rate had grown to more than 7,000 per month.[4]