StorefrontCoin

Satomoto Nakashi
May 2018

Abstract
The value of Bitcoin is1 directly proportional to how much hash-power is used to
“secure” the network. However, since Bitcoin only use measly hash-functions as the
necessary proofs, we believe that a computer-driven PoW system will inherently be im-
pacted by economies-of-scale and therefore will lead to centralization. In this paper, we
introduce a revolutionary new cryptocurrency powered by GoogleStoreFrontCaptcha
Function™. There’s nothing to this coin that leads to centralization. Actually, there’s
probably nothing to this coin that leads anyone to use it.

1 Network Model
We assume a partially-synchronous network model. The system is composed of clients
(which generate transactions) and miners (which mine new blocks).

2 Transactions
Transactions follow the UTXO model. Whenever a client wants to send money, then they
can do so easily by generating a transaction of the following format:
{
” i n p u t s ” : [ 0 x428100483D ] ,
” o u t p u t s ” : [ 0 xDF81785ACD , 0 x358311E9D6 ] ,
” signature ” : [ . . . ] ,
” v a l i d a t i o n ” : [ s t o r e f r o n t . jpg , n o t s t o r e f r o n t . j p g ] . s h u f f l e ( )
}

The inputs, outputs, and signature fields are what you would expect. The validation
field, however, is new. In order for the client to generate a valid transactions, she must in-
clude a puzzle to be solved by the miners. The puzzle contains two pictures, where one is a
store-front picture that the client must herself take and the other is a picture of not-a-store-
front. The positions are shuffled. The pictures must be less than 100kb.

3 Mining
Here’s the consensus protocol: when miners hear of a transaction, they add it to the mem-
pool. Once ready to be mined, they check the inputs, outputs, and signature fields for
validity. Then, they add the transaction into a new block and select which of the two pic-
tures in the transaction is a store-front. Once the block reaches 100MB, the block is mined.
The first miner to get a block where all pictures are correct, gets a reward.
1 apparently?