Related papers: Optimizing Governed Blockchains for Financial Proc…
In recent years, blockchain has grown in popularity due to its singular attributes, enabling the development of new innovative decentralized applications. But when companies consider leveraging blockchain for their applications, the…
We argue that recent developments in proof-of-work consensus mechanisms can be used in accordance with advancements in formal verification techniques to build a distributed payment protocol that addresses important economic drawbacks from…
We propose a blockchain-based solution for enabling verifiability of manufacturing processes. We base our solution on the methodology of verifiable computing which, originally developed for cloud computing, enables clients to outsource…
Proof-of-work blockchains need to be carefully designed so as to create the proper incentives for miners to faithfully maintain the network in a sustainable way. This paper describes how the economic engineering of the Conflux Network, a…
Blockchains rely on economic incentives to ensure secure and decentralised operation, making incentive compatibility a core design concern. However, protocols are rarely deployed in isolation. Applications interact with the underlying…
An emerging blockchain protocol design pattern leverages the asymmetry between the computational effort in performing versus verifying tasks. For example, cryptographic validity proofs (e.g., SNARKS) require the prover to expend significant…
Blockchain systems run consensus rules as code to agree on the state of the distributed ledger and secure the network. Changing these rules can be risky and challenging. In addition, it can often be controversial and take much effort to…
Blockchains have recently gained popularity thanks to their ability to record "digital truth". They are designed to keep persistence, security, and avoid attacks which is useful for many applications. However, they are still problematic in…
The emergence of more and more blockchain solutions with innovative approaches to optimising performance, scalability, privacy and governance complicates performance analysis. Reasons for the difficulty of benchmarking blockchains include,…
Blockchain technology has been used to build next-generation applications taking advantage of its decentralised nature. Nevertheless, there are some serious concerns about the trustworthiness of blockchain due to the vulnerabilities in…
A blockchain-based framework for distributed agile software testing life cycle is an innovative approach that uses blockchain technology to optimize the software testing process. Previously, various methods were employed to address…
Permissioned blockchain systems promise to provide both decentralized trust and privacy. Hyperledger Fabric is currently one of the most wide-spread permissioned blockchain systems and is heavily promoted both in industry and academia. Due…
Blockchain based cryptocurrencies are usually unmanaged, distributed, consensus-based systems in which no single entity has control. Managed cryptocurrencies can be implemented using private blockchains but are fundamentally different as…
In current blockchain systems, full nodes that perform all of the available functionalities need to store the entire blockchain. In addition to the blockchain, full nodes also store a blockchain-summary, called the \emph{state}, which is…
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…
Blockchain has been increasingly used as a software component to enable decentralisation in software architecture for a variety of applications. Blockchain governance has received considerable attention to ensure the safe and appropriate…
Although blockchain, the supporting technology of various cryptocurrencies, has offered a potentially effective framework for numerous decentralized trust management systems, its performance is still sub-optimal in real-world networks. With…
Bitcoin blockchain uses hash-based Proof-of-Work (PoW) that prevents unwanted participants from hogging the network resources. Anyone entering the mining game has to prove that they have expended a specific amount of computational power.…
Owing to some special characteristics and features, blockchain is a very useful technique that can securely organize diverse devices in a smart city. It finds wide applications, especially in distributed environments, where entities such as…
Game theory is often used as a tool to analyze decentralized systems and their properties, in particular, blockchains. In this note, we take the opposite view. We argue that blockchains can and should be used to implement economic…