Research of Merged Mining Technology in Bitcoin Blockchain Scaling
Abstract— Bitcoin is a digital currency raised by Satosghi Nakamoto, which is Completely decentralized, Highly anonymous, cross-border. Nowadays it has became one of the most widely used currency. Recently, as the used capacity has approached the capacity limitation of each block, the time needed to confirm a transaction increase dramatically. As a result, bitcoin cannot satisfy the need of a large number of bitcoin transactions. This paper aims to apply merged mining technology to bitcoin blockchain scaling, which builds another blockchain called auxiliary blockchain based on bitcoin blockchain and stores some of small rapid transactions in auxiliary blockchain. This paper also proves the merged mining technology can concentrate computing power and design a special miner reward program.
Index Terms— blockchain, bitcoin, merged mining technology, auxiliary blockchain.
Xue Zhipeng, Duan Xuliang, Wen Zheng
School of information engineering, Sichuan Agricultural University, CHINA
Cite: Xue Zhipeng, Duan Xuliang, Wen Zheng, "Research of Merged Mining Technology in Bitcoin Blockchain Scaling," Proceedings of 2018 the 8th International Workshop on Computer Science and Engineering, pp. 411-416, Bangkok, 28-30 June, 2018.