Related papers: Algorand
ALGORAND is a celebrated public ledger technology. In this paper, we identify several design flaws of the ALGORAND protocol. In particular, we show that the claimed (proved) fork-free property is not true and several assumptions in ALGORAND…
The Algorand blockchain is a secure and decentralized public ledger based on pure proof of stake rather than proof of work. At its core it is a novel consensus protocol with exactly one block certified in each round: that is, the protocol…
Algorand is a scalable and secure permissionless blockchain that achieves proof-of-stake consensus via cryptographic self-sortition and binary Byzantine agreement. In this paper we present a process algebraic model of the Algorand consensus…
Owing to Satoshi Nakamoto's brilliant idea, a P2P public ledger is shown to be implementable in anonymous network. Any Internet user can then join the anonymous network and contribute to the P2P public ledger by providing their computing…
Blockchains are tamper evident and tamper resistant digital ledgers implemented in a distributed fashion (i.e., without a central repository) and usually without a central authority (i.e., a bank, company, or government). At their basic…
Permisionless decentralized ledgers ("blockchains") such as the one underlying the cryptocurrency Bitcoin allow anonymous participants to maintain the ledger, while avoiding control or "censorship" by any single entity. In contrast,…
Permissionless blockchain protocols are known to consume an outrageous amount of computing power and suffer from a trade-off between latency and confidence in transaction confirmation. The recently proposed Algorand blockchain protocol…
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…
A tool to improve the effectiveness and the efficiency of public spending is proposed here. In the 19th century banknotes had a serial number. However, in modern days the use of digital transactions that do not use physical currency has…
The rise of crypto-currencies has spawned great interest in their underlying technology, namely, Blockchain. The central component in a Blockchain is a shared distributed ledger. A ledger comprises series of blocks, which in turns contains…
Algorand is a recent, open-source public or permissionless blockchain system that employs a novel proof-of-stake byzantine consensus protocol to efficiently scale the distributed transaction agreement problem to billions of users. In…
A lot of business and research effort currently deals with the so called decentralised ledger technology blockchain. Putting it to use carries the tempting promise to make the intermediaries of social interactions superfluous and…
Distributed immutable ledgers, or blockchains, allow the secure digitization of evidential transactions without relying on a trusted third-party. Evidential transactions involve the exchange of any form of physical evidence, such as money,…
We propose LazyLedger, a design for distributed ledgers where the blockchain is optimised for solely ordering and guaranteeing the availability of transaction data. Responsibility for executing and validating transactions is shifted to only…
A key component of blockchain technology is the ledger, viz., a database that, unlike standard databases, keeps in memory the complete history of past transactions as in a notarial archive for the benefit of any future test. In…
While public blockchains provide transparent and auditable transaction histories, they inherently compromise user privacy. Existing privacy-enhancing protocols, such as those deployed on Ethereum, typically rely on succinct zero-knowledge…
Decentralized Ledger Technology, popularized by the Bitcoin network, aims to keep track of a ledger of valid transactions between agents of a virtual economy without a central institution for coordination. In order to keep track of a…
Blockchain is a decentralized ledger used to securely exchange digital currency, perform deals and transactions efficient manner, each user of the network has access to the least copy of the encrypted ledger so that they can validate a new…
Recently, an ingenious protocol called Algorand has been proposed to overcome these limitations. Algorand uses an innovative process - called cryptographic sortition - to securely and unpredictably elect a set of voters from the network…
One of the defining features of a cryptocurrency is that its ledger, containing all transactions that have evertaken place, is globally visible. As one consequenceof this degree of transparency, a long line of recent re-search has…