Timer-based consensus algorithm in blockchain

by Abo Ali   Last Updated July 22, 2019 11:27 AM

Assume that there is an algorithm that ensures: 1- That a full node chooses an honest random wait time. 2- That the same node has waited the specified amount of time before proceeding to mine a block.

Would there be any need for mining using PoW and Why? Note that I said an algorithm and not a central entity like Intel Software Guard Extensions (SGX).

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Updated December 06, 2017 22:27 PM