Related papers: Cryptocurrencies without Proof of Work
Decentralisation is one of the promises introduced by blockchain technologies: fair and secure interaction amongst peers with no dominant positions, single points of failure or censorship. Decentralisation, however, appears difficult to be…
This paper is concerned with the stability of shares in a cryptocurrency where the new coins are issued according to the Proof of Stake protocol. We identify large, medium and small investors under various rewarding schemes, and show that…
We study the applicability of blockchain technology for distributed event detection under resource constraints. Therefore we provide a test-suite with several promising consensus methods (Proof-of-Work, Proof-of-Stake, Distributed…
Bitcoin uses blockchain technology and proof-of-work (PoW) mechanism where nodes spend computing resources and earn rewards in return for spending these resources. This incentive system has caused power to be significantly biased towards a…
In recent years decentralized currencies developed through Blockchains are increasingly becoming popular because of their transparent nature and absence of a central controlling authority. Though a lot of computation power, disk space, and…
Many protocols in distributed computing rely on a source of randomness, usually called a random beacon, both for their applicability and security. This is especially true for proof-of-stake blockchain protocols in which the next miner or…
Blockchain is a novel technology that is rising a lot of interest in the industrial and re- search sectors because its properties of decentralisation, immutability and data integrity. Initially, the underlying consensus mechanism has been…
The proof-of-work consensus protocol suffers from two main limitations: waste of energy and offering only probabilistic guarantees about the status of the blockchain. This paper introduces SklCoin, a new Byzantine consensus protocol and its…
Blockchains rely on a consensus among participants to achieve decentralization and security. However, reaching consensus in an online, digital world where identities are not tied to physical users is a challenging problem. Proof-of-work…
A blockchain is a decentralized ledger where all transactions are recorded. For having a reliable blockchain and double-spending prevention, we need a decentralized consensus and agreement on a blockchain. Bitcoin uses proof-of-work (PoW).…
We present the new mining protocol Proof-of-Reputation (PoR) for decentralized Proof-of-Work (PoW) blockchains, in particular for Bitcoin. PoR combines the classical PoW with the new ingredient of cryptographic reputation. The same level of…
While online services emerge in all areas of life, the voting procedure in many democracies remains paper-based as the security of current online voting technology is highly disputed. We address the issue of trustworthy online voting…
One decade ago, Bitcoin was introduced, becoming the first cryptocurrency and establishing the concept of "blockchain" as a distributed ledger. As of today, there are many different implementations of cryptocurrencies working over a…
While cryptocurrencies and blockchain applications continue to gain popularity, their energy cost is evidently becoming unsustainable. In most instances, the main cost comes from the required amount of energy for the Proof-of-Work, and this…
In this review, we evaluate the mechanisms behind the decentralized finance protocols for generating stable, passive income. Currently, such savings interest rates can be as high as 20% annually, payable in traditional currency values such…
Bitcoin is the most successful cryptocurrency so far. This is mainly due to its novel consensus algorithm, which is based on proof-of-work combined with a cryptographically-protected data structure and a rewarding scheme that incentivizes…
Lending protocols are one of the main applications of Decentralized Finance (DeFi), enabling crypto-assets loan markets with a total value estimated in the tens of billions of dollars. Unlike traditional lending systems, these protocols…
Since the invention of Bitcoin one decade ago, numerous cryptocurrencies have sprung into existence. Among these, proof-of-work is the most common mechanism for achieving consensus, whilst a number of coins have adopted "ASIC-resistance" as…
Blockchain technology enables secure, transparent data management in decentralized systems, supporting applications from cryptocurrencies like Bitcoin to tokenizing real-world assets like property. Its scalability and sustainability hinge…
A decentralized online petition system enables individuals or groups to create, sign, and share petitions without a central authority. Using blockchain technology, these systems ensure the integrity and transparency of the petition process…