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Blockchain offers an innovative approach to storing information, executing transactions, performing functions, and establishing trust in an open environment. Many consider blockchain as a technology breakthrough for cryptography and…
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…
The security of blockchain systems based on Proof of Work relies on mining. However, mining suffers from unstable revenue, prompting many miners to form cooperative mining pools. Most existing mining pools operate in a centralized manner,…
Blockchain offers a decentralized, immutable, transparent system of records. It offers a peer-to-peer network of nodes with no centralised governing entity making it unhackable and therefore, more secure than the traditional paper-based or…
Bitcoin provides freshness properties by forming a blockchain where each block is associated with its timestamp and the previous block. Due to these properties, the Bitcoin protocol is being used as a decentralized, trusted, and secure…
The set of distributed ledger architectures known as blockchain is best known for cryptocurrency applications such as Bitcoin and Ethereum. These permissionless block chains are showing the potential to be disruptive to the financial…
Trust between entities in any scenario without a trusted third party is very difficult, and trust is exactly what blockchain aims to bring into the digital world with its basic features. Many applications are moving to blockchain adoption,…
Blockchain eliminates the need for trusted third-party intermediaries in business by enabling decentralised architecture design in software applications. However, the vulnerabilities in on-chain autonomous decision-makings and cumbersome…
Since the creation of Bitcoin 15 years ago, there has been an explosion in the number of permissionless blockchains. Each of these blockchains provides an open ledger that anyone can read from and write to. In this multi-chain world, an…
Research in blockchain systems has mainly focused on improving security and bridging the performance gaps between blockchains and databases. Despite many promising results, we observe a worrying trend that the blockchain landscape is…
Bitcoin is an immutable permissionless blockchain system that has been extensively used as a public bulletin board by many different applications that heavily relies on its immutability. However, Bitcoin's immutability is not without its…
Different versions of peer-to-peer electronic cash exist as data represented by separate blockchains. Payments between such systems cannot be sent directly from one party to another without going through a financial institution. Bitcoin…
It is no exaggeration to say that since the introduction of Bitcoin, blockchains have become a disruptive technology that has shaken the world. However, the rising popularity of the paradigm has led to a flurry of proposals addressing…
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…
Inspired by Bitcoin, many different kinds of cryptocurrencies based on blockchain technology have turned up on the market. Due to the special structure of the blockchain, it has been deemed impossible to directly trade between traditional…
A blockchain is a distributed ledger for recording transactions, maintained by many nodes without central authority through a distributed cryptographic protocol. All nodes validate the information to be appended to the blockchain, and a…
Popular cryptocurrencies continue to face serious scalability issues due to their ever-growing blockchains. Thus, modern blockchain designs began to prune old blocks and rely on recent snapshots for their bootstrapping processes instead.…
We define and examine the shutdown problem for blockchain systems: how to gracefully end the system's operation at the end of its useful life. A particular focus is those blockchain systems that hold archival data of long-lived interest. We…
Blockchain also known as a distributed ledger technology stores different transactions/operations in a chain of blocks in a distributed manner without needing a trusted third-party. Blockchain is proven to be immutable which helps for…
We argue that the current POW based consensus algorithm of the Bitcoin network suffers from a fundamental economic discrepancy between the real world transaction (txn) costs incurred by miners and the wealth that is being transacted. Put…