A flexible method to defend against computationally resourceful miners in blockchain proof of work

Blockchain is well known as a decentralized and distributed public digital ledger, and is currently used by most cryptocurrencies to record transactions. One of the fundamental differences between blockchain and traditional distributed systems is that blockchain’s decentralization relies on consensus protocols, such as proof of work (PoW). However, computation systems, such as application specific integrated circuit (ASIC) machines, have...