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In this paper, we explore vulnerabilities and countermeasures of the recently proposed blockchain consensus based on proof-of-authority. The proof-of-work blockchains, like Bitcoin and Ethereum, have been shown both theoretically and…
To mitigate the scalability problem of decentralized cryptocurrencies such as Bitcoin and Ethereum, the payment channel, which allows two parties to perform secure coin transfers without involving the blockchain, has been proposed. The…
Cryptocurrencies aim to replicate physical cash in the digital realm while removing centralized and trusted intermediaries. Decentralization is achieved by the blockchain, a permanent public ledger that contains a record of every…
Proof-of-Work (PoW) systems face critical challenges, including excessive energy consumption and the centralization of mining power among entities with expensive hardware. Static mining pools exacerbate these issues by reducing competition…
We propose Ping-Pong Swaps: A secure pure peer-to-peer crosschain swap mechanism of tokens or cryptocurrencies that does not require escrow nor an intermediate trusted third party. The only technical requirement is to be able to open…
We introduce proof of spending in a block-chain system. In this system the probability for a node to create a legal block is proportional to the total amount of coins it has spent in history.
The Bitcoin cryptocurrency records its transactions in a public log called the blockchain. Its security rests critically on the distributed protocol that maintains the blockchain, run by participants called miners. Conventional wisdom…
A soft control of the network activity through varying reward in a proof-of-work (PoW) cryptocurrency is reported. Rewards are the necessity to incent the contributors activities (i.e., mining) in order to maintain the PoW network. Contrary…
Lightning Network (LN) addresses the scalability problem of Bitcoin by leveraging off-chain transactions. Nevertheless, it is not possible to run LN on resource-constrained IoT devices due to its storage, memory, and processing…
Location-Based Services (LBSs) build upon geographic information to provide users with location-dependent functionalities. In such a context, it is particularly important that geographic locations claimed by users are trustworthy.…
Several IoT applications are tightly dependent on the locations of the devices. However, localization algorithms can be easily compromised by injecting false locations. In this paper, we propose a Blockchain-based secure localization…
Stablecoins are one of the most widely capitalized type of cryptocurrency. However, their risks vary significantly according to their design and are often poorly understood. We seek to provide a sound foundation for stablecoin theory, with…
Bitcoin is a digital currency which relies on a distributed set of miners to mint coins and on a peer-to-peer network to broadcast transactions. The identities of Bitcoin users are hidden behind pseudonyms (public keys) which are…
Most online lotteries today fail to ensure the verifiability of the random process and rely on a trusted third party. This issue has received little attention since the emergence of distributed protocols like Bitcoin that demonstrated the…
Proof-of-Work (PoW) consensus is traditionally analyzed under the assumption that all miners incur similar costs per unit of computational effort. In reality, costs vary due to factors such as regional electricity cost differences and…
Blockchain solutions typically assume a synchronous network to ensure consistency and achieve consensus. In contrast, offline transaction systems aim to enable users to agree on and execute transactions without assuming bounded…
Central Bank Digital Currency (CBDCs) are becoming a new digital financial tool aimed at financial inclusion, increased monetary stability, and improved efficiency of payment systems, as they are issued by central banks. One of the most…
Grover's algorithm confers on quantum computers a quadratic advantage over classical computers for searching in an arbitrary data set, a scenario that describes Bitcoin mining. It has previously been argued that the only side-effect of…
Although blockchains have become widely popular for their use in cryptocurrencies, they are now becoming pervasive as more traditional applications adopt blockchain to ensure data security. Despite being a secured network, blockchains have…
Designed to compete with fiat currencies, bitcoin proposes it is a crypto-currency alternative. Bitcoin makes a number of false claims, including: solving the double-spending problem is a good thing; bitcoin can be a reserve currency for…