Egalitarian Proof of Work (EPoW)
Last Updated 2020-07-05
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.