Related papers: Bitcoin-NG: A Scalable Blockchain Protocol
The development of underlying technologies in blockchain mostly revolves around a difficult problem: how to enhance the performance of the system and reduce various costs of nodes (such as communication, storage and verification) without…
The Bitcoin Lightning Network is a layer 2 protocol designed to facilitate fast and inexpensive Bitcoin transactions. It operates by establishing channels between users, where Bitcoin is locked and transactions are conducted off-chain until…
Bitcoin, as well as many of its successors, require the whole transaction record to be reliably acquired by all nodes to prevent double-spending. Recently, many blockchains have been proposed to achieve scale-out throughput by letting nodes…
Blockchain systems benefit from lessons in prior art such as fault tolerance, distributed systems, peer-to-peer systems, and game theory. In this paper we argue that blockchain algorithms should tolerate both rational (self-interested)…
As an emerging service framework built by combining cryptography, P2P network, consensus mechanism and innovative contract technology, blockchain has been widely used in digital finance, data sharing, message traceability and electronic…
We design and validate new block propagation protocols for the peer-to-peer (P2P) network of the Bitcoin blockchain. Despite its strong protection for security and privacy, the current Bitcoin blockchain can only support a low number of…
The application of Bitcoin enables people to understand blockchain technology gradually. Bitcoin is a decentralized currency that does not rely on third-party credit institutions, and the core of Bitcoin's underlying technology is…
Blockchain is a type of decentralized distributed database. Unlike traditional relational database management systems, it does not require management or maintenance by a third party. All data management and update processes are open and…
The Lightning Network is a so-called second-layer technology built on top of the Bitcoin blockchain to provide "off-chain" fast payment channels between users, which means that not all transactions are settled and stored on the main…
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…
With the rise of cryptocurrency and NFTs in the past decade, blockchain technology has been an area of increasing interest to both industry and academic experts. In this paper, we discuss the feasibility of such systems through the lens of…
Bitcoin has emerged as a revolutionary payment system with its decentralized ledger concept however it has significant problems such as high transaction fees and long confirmation times. Lightning Network (LN), which was introduced much…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…
Bitcoin has emerged as a revolutionary payment system with its decentralized ledger concept; however it has significant problems such as high transaction fees and low throughput. Lightning Network (LN), which was introduced much later,…
In the high-stakes race to develop more scalable blockchains, some platforms (Binance, Cosmos, EOS, TRON, etc.) have adopted committee-based consensus (CBC) protocols, whereby the blockchain's record-keeping rights are entrusted to a…
Cryptocurrencies are poised to revolutionize the modern economy by democratizing commerce. These currencies operate on top of blockchain-based distributed ledgers. Existing permissionless blockchain-based protocols offer unparalleled…
The digital currency Bitcoin has had remarkable growth since it was first proposed in 2008. Its distributed nature allows currency transactions without a central authority by using cryptographic methods and a data structure called the…
Blockchain technology has been proposed as a new infrastructure technology for a wide variety of novel applications. Blockchains provide an immutable record of transactions, making them useful when business actors do not trust each other.…
Bitcoin is a decentralised digital currency that serves as an alternative to existing transaction systems based on an external central authority for security. Although Bitcoin has many desirable properties, one of its fundamental…
Blockchain systems are designed, built and operated in the presence of failures. There are two dominant failure models, namely crash fault and Byzantine fault. Byzantine fault tolerance (BFT) protocols offer stronger security guarantees,…