Abstract: The validation of blocks in a blockchain is based upon “proof of hardware.” Rather than dividing the power to make a validation decision among computational abilities, accumulation of a commodity, or the like, proof of hardware divides the power of the decision among the devices that are involved in the validation process. Basically, each device involved in the process includes a hardware security module having a private key and an associated public key. The device is identified by its public key, and is able to sign new blocks. The device can sign a block, which it shares with the community, to be added as a new block in the chain, and is able to validate blocks signed by other devices in the community.

Abstract: The validation of blocks in a blockchain is based upon “proof of hardware.” Rather than dividing the power to make a validation decision among computational abilities, accumulation of a commodity, or the like, proof of hardware divides the power of the decision among the devices that are involved in the validation process. Basically, each device involved in the process includes a hardware security module having a private key and an associated public key. The device is identified by its public key, and is able to sign new blocks. The device can sign a block, which it shares with the community, to be added as a new block in the chain, and is able to validate blocks signed by other devices in the community.