Enhanced SAT Solvers Based Hashing Method for Bitcoin Mining

Abstract

Blockchain is a new technology that contains a list of blocks; where each one includes a hash value of the previously linked block. Using cryptography in Blockchain prevents manipulating data in any block of the chain that puts time overhead for generating the blocks. It is critical that an efficient method for mining process is essential to reduce the time of generating blocks. To speed up the computations, various special purpose hardware was built with special circuits that are designed based on the problem instance to be solved. Another approach is by using an algorithmic approach. Satisfiability (SAT) Solvers are the recent methods that can be used for mining process efficiently. In this paper, we propose a SAT Solver mining methodology. The main challenges in Blockchain technology is to reduce the mining time. This paper focuses on mining process in Bitcoin, which is the most popular Blockchain based cryptocurrency. A substantial reduction of the mining time has been achieved using the proposed SAT method.