Exploring Arbitrary Real-Life Problems in Proof-of-Useful-Work: Myth Busting?

Abstract

Proof-of-Useful-Work (PoUW) consensus protocols (CPs) are commonly used to improve the Blockchain (BC) efficiency and security. Numerous papers propose various PoUW concepts, majority of them being based on solving the hard real-life optimization problems. A recently proposed Combinato-rial Optimization Consensus Protocol (COCP), tried to address exploration of an arbitrary real-life combinatorial optimization problem. Although the ideas are quite straightforward, the actual implementation of such a BC system is still challenging. In this paper we reflect upon the main components of PoUW-based BC system with an emphasis on implementation challenges that arise from the necessity to define and solve an arbitrary real-life CO problem with the appropriate CO algorithm,