Related papers: The Ethereum Scratch Off Puzzle
Ethereum has undergone a recent change called \textit{the Merge}, which made Ethereum a Proof-of-Stake blockchain, shifting closer to BFT consensus. Ethereum, which wished to keep the best of the two protocol designs (BFT and…
Since the Merge update upon which Ethereum transitioned to Proof of Stake, it has been touted that it resulted in lower power consumption and increased security. However, even if that is the case, can this state be sustained? In this paper,…
Bitcoin and Ethereum, whose miners arguably collectively comprise the most powerful computational resource in the history of mankind, offer no more power for processing and verifying transactions than a typical smart phone. The system…
Blockchain is a decentralized, distributed ledger technology that ensures transparency, security, and immutability through cryptographic techniques. However, advancements in quantum computing threaten the security of classical cryptographic…
Blockchain and Cryptocurrencies are gaining unprecedented popularity and understanding. Meanwhile, Ethereum is gaining a significant popularity in the blockchain community, mainly due to the fact that it is designed in a way that enables…
As of July 15, 2023, Ethererum, which is a Proof-of-Stake (PoS) blockchain [1] has around 410 Billion USD in total assets on chain (popularly referred to as total-value-locked, TVL) but has only 33 Billion USD worth of ETH staked in…
Smart contracts are computer programs that can be consistently executed by a network of mutually distrusting nodes, without the arbitration of a trusted authority. Because of their resilience to tampering, smart contracts are appealing in…
We introduce Casper, a proof of stake-based finality system which overlays an existing proof of work blockchain. Casper is a partial consensus mechanism combining proof of stake algorithm research and Byzantine fault tolerant consensus…
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…
We present "Gasper," a proof-of-stake-based consensus protocol, which is an idealized version of the proposed Ethereum 2.0 beacon chain. The protocol combines Casper FFG, a finality tool, with LMD GHOST, a fork-choice rule. We prove safety,…
We present an overview of hybrid Casper the Friendly Finality Gadget (FFG): a Proof-of-Stake checkpointing protocol overlaid onto Ethereum's Proof-of-Work blockchain. We describe its core functionalities and reward scheme, and explore its…
Bitcoin has attracted everyone's attention and interest recently. Ethereum (ETH), a second generation cryptocurrency, extends Bitcoin's design by offering a Turing-complete programming language called Solidity to develop smart contracts.…
Liquid staking has become the largest category of decentralized finance protocols in terms of total value locked. However, few studies exist on its implementation designs or underlying risks. The liquid staking protocols allow for earning…
Motivated by proof-of-stake (PoS) blockchains such as Ethereum, two key desiderata have recently been studied for Byzantine-fault tolerant (BFT) state-machine replication (SMR) consensus protocols: Finality means that the protocol retains…
Blockchain technology has set off a wave of decentralization in the world since its birth. The trust system constructed by blockchain technology based on cryptography algorithm and computing power provides a practical and powerful solution…
Smart contracts are programs running on cryptocurrency (e.g., Ethereum) blockchains, whose popularity stem from the possibility to perform financial transactions, such as payments and auctions, in a distributed environment without need for…
Ethereum has emerged as a dynamic platform for exchanging cryptocurrency tokens. While token crowdsales cannot simultaneously guarantee buyers both certainty of valuation and certainty of participation, we show that if each token buyer…
The blockchain technology is believed by many to be a game changer in many application domains, especially financial applications. While the first generation of blockchain technology (i.e., Blockchain 1.0) is almost exclusively used for…
Consensus algorithms facilitate agreement on and resolution of blockchain functions, such as smart contracts and transactions. Ethereum uses a Proof-of-Stake (PoS) consensus mechanism, which depends on financial incentives to ensure that…
Half a decade after Bitcoin became the first widely used cryptocurrency, blockchains are receiving considerable interest from industry and the research community. Modern blockchains feature services such as name registration and smart…