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Qwertycoin Whitepaper
  • Cover Page
  • Credits
  • Index
  • Introduction
  • Vision
    • Vision
    • Blockchain Development Roadmap
    • Exchange Listing and Pricing Strategies
  • Consensus
    • [Outdated] CryptoNote Proof of Work
      • CryptoNote block reward scheme calculation
        • An example of CryptoNote block reward scheme manipulation
    • Egalitarian Proof of Work (EPoW)
      • Introduction of EPoW block reward algorithm based on Consistency
        • An example of how QWC prevented CryptoNote block reward manipulation
      • Difficulty Algorithm - CIMA (Confidence Interval Moving Average)
        • Testnet Result
      • Difficulty Algorithm - CLIF (Critical Level Impediment Failsafe)
        • Testnet Result
      • Do you want to make EPoW more egalitarian by switching mining algorithm?
    • Transition from PoW to PoS
    • Egalitarian Proof of Stake (EPoS) - Hybrid PoS/dPoS
      • Sharding
    • Egalitarian Proof of Service (EPoSe) - Hybrid EPoW/EPoS
  • Scalability
    • Genesis Reference Block (GRB)
    • Consolidation
    • Pruning
  • Blockchain Governance
    • FATF Compliance
    • 10% Governance Fee
    • Community Voting
  • DeFi Tranasactions
    • Time Locked Transaction (TLT)
    • Long Term Staking (LTS)
    • On-Chain Trade (OCT)
  • Smart Contracts
    • Multi-Signature
    • NFT(Non Fungible Token)
  • Features
    • LMDB (Lightening Memory Mapped Database)
  • Future Directions
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  1. Consensus

Egalitarian Proof of Work (EPoW)

Last Updated 2020-07-05

PreviousAn example of CryptoNote block reward scheme manipulationNextIntroduction of EPoW block reward algorithm based on Consistency

Last updated 4 years ago

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QWC introduces Egalitarian Proof of Work (EPoW) for the first time in blockchain space for protecting the blockchain from the well-known majority attacks and double-spending. This is also the first step towards EPoSe consensus.

The core team found fundamental flaws in the original CryptoNote Proof of Work because it allowed miners, especially influential groups of miners, to get more coins. Also, difficulty algorithm (DA) was not carefully designed to cover many different cases that changed since CryptoNote whitepaper was released.

QWC's EPoW greatly improves Byzantine Fault Tolerance in PoW consensus.

EPoW reward algorithm is designed so that any forged extra time posted by a malicious actor is rather penalized for every second compared to issuing a new block with the shortest timestamp for the next block. There are simply no incentives for malicious actors to do this.

We will simply state it this way; don't cheat on mining and you will get the maximum rewards you deserve.

Click to enlarge the table.