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Going Beyond the Coinbase Transaction Fee: Alternative Reward Schemes for Miners in Blockchain Systems

The blockchain technology has emerged as a disruptive technology in recent years. The open and transparent nature of the distributed ledger, as supported by the blockchain technology, is an appealing factor to push this technology in applications with strong accountability and audit requirements such as cryptocurrency systems (i.e. Bitcoin) and ecommerce (i.e OpenBazaar). In order to guarantee the integrity of the distributed ledger, a set of miner nodes is in place that uses computing power to prove the authenticity of the ledger, in exchange for a small compensation fee. In this paper, alternative reward schemes for the miners are presented.