Related papers: A Cooperative Proof of Work Scheme for Distributed…
PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double SHA-256 hashing protocol-- the same mechanism used by Bitcoin Core. This compatibility with classic Bitcoin-style mining provides low barrier to entry for PAI Coin…
The security of most existing cryptocurrencies is based on a concept called Proof-of-Work, in which users must solve a computationally hard cryptopuzzle to authorize transactions (`one unit of computation, one vote'). This leads to enormous…
Blockchains combine other technologies, such as cryptography, networking, and incentive mechanisms, to enable the creation, validation, and recording of transactions between participating nodes. A consensus algorithm is used in a blockchain…
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…
Blockchain technology enables secure, transparent data management in decentralized systems, supporting applications from cryptocurrencies like Bitcoin to tokenizing real-world assets like property. Its scalability and sustainability hinge…
This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…
Since its advent in 2011, boson sampling has been a preferred candidate for demonstrating quantum advantage because of its simplicity and near-term requirements compared to other quantum algorithms. We propose to use a variant, called…
One decade ago, Bitcoin was introduced, becoming the first cryptocurrency and establishing the concept of "blockchain" as a distributed ledger. As of today, there are many different implementations of cryptocurrencies working over a…
Current blockchain consensus protocols -- notably, Proof of Work (PoW) and Proof of Stake (PoS) -- deliver global agreement but exhibit structural constraints. PoW anchors security in heavy computation, inflating energy use and imposing…
With the rapid growth of hyperconnected devices and decentralized data architectures, safeguarding Internet of Things (IoT) transactions is becoming increasingly challenging. Blockchain presents a promising solution, yet its effectiveness…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
Consensus mechanism is the heart of any blockchain network. Many projects have proposed alternative protocols to improve restricted scalability of Proof of Work originated since Bitcoin. As an improvement of Delegated Proof of Stake, in…
We introduce Unity Interleave, a new consensus algorithm for public blockchain settings. It is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It builds upon…
Given that Proof-of-Work (PoW) and Proof-of-Stake (PoS) are plutocratic, and other common consensus protocols are mostly permission-based, we look for a consensus protocol that will suit the needs of e-Democracy. In particular, what we need…
The consensus protocol is the core of a blockchain system which guarantees its secure and stable operation. Proof of Activity (PoA) is a consensus protocol that tries to address some of the issues pertinent to the most widely used…
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…
Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…
Consensus protocols used today in blockchains often rely on computational power or financial stakes - scarce resources. We propose a novel protocol using social capital - trust and influence from social interactions - as a non-transferable…
This paper we define a new Puzzle called Proof-of-Interaction and we show how it can replace, in the Bitcoin protocol, the Proof-of-Work algorithm.
Proof-of-Work (PoW) consensus mechanism is popular among current blockchain systems, which leads to an increasing concern about the tremendous waste of energy due to massive meaningless computation. To address this issue, we propose a novel…