This research paper proposes a new block rewarding system to achieve fair distribution of block rewards among miners and to prevent mining equipment competition as seen in cryptocurrency such as Bitcoin. It offers an assessment of proof-of-mining and provides an alternative.

Under the systems proposed throughout this paper, a high hashrate is discouraged through adjusting the rewards: high rewards are
issued at low network hashrate. It also observes that the new system emphasises the participation of miners instead of their hashing power, allowing for a new mining mechanism, i.e., proof-of-mining. It’s anticipated that the new block rewarding system leads to a more
decentralised cryptocurrency.

A ’soft’ control of the network activity through varying reward in a proof-of-work (PoW) cryptocurrency is reported throughout the paper. Contrary to constant rewarding in a certain period implemented in most of cryptocurrency, such as Bitcoin, the authors propose a network-dependent rewarding model system, primarily including two phases:

1) Activities encouraging phase in which higher rewards are issued at higher network activities; and 2) discouraging further increase of activities by reducing rewards. The advantages of this system include 1) fair distribution of rewards among a variety of
contributors
2) Enforcing a limit to the network activity and hence the cost of maintaining the PoW network. This mechanism requires network contributors to show their participation in order to earn maximum rewards, i.e., proof-of-mining.

Under the systems proposed throughout this paper, a high hashrate is discouraged through adjusting the rewards: high rewards are
issued at low network hashrate. It also observes that the new system emphasises the participation of miners instead of their hashing power, allowing for a new mining mechanism, i.e., proof-of-mining. It’s anticipated that the new block rewarding system leads to a more
decentralised cryptocurrency.