Modular Proof-of-Work

Avatar

By Support Agent Tkeycoin

updated 2 months ago

Pure proof-of-work approaches are subject to serious security risks that cannot be replicated in proof-of-work currencies (including Bitcoin). These problems are intrinsic to PoS algorithms, as share-based validation negotiation is not entrenched in the physical world. Unlike PoW, share-based reconciliation is not objective.

New users cannot accurately determine the state of a PoS system based solely on Protocol rules and data received from system nodes. To eliminate the possibility of long forks of the blockchain, the PoS system must be weakly subjective, complementing the rules of the Protocol with the security provided by the system. The social component of systems that use share validation weakens their decentralization and mathematical validity.

Our analysis mathematically proves the effectiveness of PoW protocols against the background of other alternatives. Accordingly, it is necessary to eliminate the existing problems of this Protocol to obtain an effective and reliable solution.

Creating a reliable means of payment and financial instrument, our developers took into account the important fact that the payment system should not exist the concept of "high error price".

mPoW is a modular Proof-of-Work, reliably protected from double-spending attacks, selfish mining and various DDoS attacks.

Due to the modular implementation of the TKEY Protocol and significant changes in the architecture of the blockchain, as it is now used to seeing, we have achieved good results. Repeated mPoW testing has shown us the key properties:

  • Quantum stability;
  • Scalability;
  • Full decentralization;
  • No attack 51%;
  • No double spending;
  • Low power consumption.

A type of hacker attack known as "double spending" requires the concentration in one hand of more than half of the entire cryptocurrency. However, when using mPoW, this attack becomes impossible due to the Protocol architecture and the solution presented in section 8 of the design documentation.

Any member of the network in any country can start mining Tkeycoin. Due to the modular distribution of resources throughout the network, we have achieved the absence of selfish mining. The network uses minimal resources and does not require powerful data mining equipment and can handle high transaction throughput. For mining suitable as a home computer and specialized equipment.

Did this answer your question?