POSTER: Mining with Proof-of-Probability in Blockchain

As interest in cryptocurrency has increased, problems have arisen with Proof-of-Work (PoW) and Proof-of-Stake (PoS) methods, the most representative methods of acquiring cryptocurrency in a blockchain. The PoW method is uneconomical and the PoS method can be easily monopolized by a few people. To cope with this issue, this paper introduces a Proof-of-Probability (PoP) method. The PoP is a method where each node sorts the encrypted actual hash as well as a number of fake hash, and then the first node to decrypt actual hash creates block. In addition, a wait time is used when decrypting one hash and then decrypting the next hash for restricting the excessive computing power competition. In addition, the centralization by validaters with many stakes can be avoided in the proposed PoP method.