SpreadCoin Whitepaper

Abstract

In proof-of-work cryptocurrencies new coins are generated by the network through the process of
mining. One of the purposes of mining is to protect network from double spending attacks and history
rewriting. Miners generate new blocks and check contents of the blocks generated by other peers for
conformation to the network rules. However, many miners now delegate all the checking work crucial to
cryptocurrency security to pools. This means that pool operators do not have any large hashing power
but have control over generation of new blocks. This brings unnecessary centralization to otherwise
decentralized system. Controlling more than 50% of mining power allows to perform double-spending
attacks with 100% chance of success but even with less than 50% control it is possible to perform
attacks which have chances to succeed. The core idea of SpreadCoin is to prevent creation of pools and
thus make mining more decentralized and the whole system more secure.

SpreadCoin Website
SpreadCoin Whitepaper

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