Related papers: Delayed Blockchain Protocols
Blockchain-based Distributed Ledgers (DLs) promise to transform the existing financial system by making it truly democratic. In the past decade, blockchain technology has seen many novel applications ranging from the banking industry to…
A blockchain system is a replicated state machine that must be fault tolerant. When designing a blockchain system, there is usually a trade-off between decentralization, scalability, and security. In this paper, we propose a novel…
Buoyed by the excitement around secure decentralized applications, the last few decades have seen numerous constructions of distributed randomness beacons (DRB) along with use cases; however, a secure DRB (in many variations) remains an…
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…
Traditional security models for Nakamoto-style blockchains assume instantaneous synchronization among malicious nodes, which overestimate adversarial coordination capability. We revisit these existing models and propose two more realistic…
We present efficient protocols for amortized secure multiparty computation with penalties and secure cash distribution, of which poker is a prime example. Our protocols have an initial phase where the parties interact with a cryptocurrency…
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…
We study the strategic considerations of miners participating in the bitcoin's protocol. We formulate and study the stochastic game that underlies these strategic considerations. The miners collectively build a tree of blocks, and they are…
It has been known for some time that the Nakamoto consensus as implemented in the Bitcoin protocol is not totally aligned with the individual interests of the participants. More precisely, it has been shown that block withholding mining…
We present Colordag, a blockchain protocol where following the prescribed strategy is, with high probability, a best response as long as all miners have less than 1/2 of the mining power. We prove the correctness of Colordag even if there…
The research designs a new integrated system for the security enhancement of a decentralized network by preventing damages from attackers, particularly for the 51 percent attack. The concept of multiple layered design based on Blockchain…
Delayed rewards problem in contextual bandits has been of interest in various practical settings. We study randomized allocation strategies and provide an understanding on how the exploration-exploitation tradeoff is affected by delays in…
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…
This paper deals with design of the alternative secure Blockchain network framework to prevent damages from an attacker. The concept of the strategic alliance of the management is applied on the top of the recent developed stochastic game…
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…
Building elastic and scalable edge resources is an inevitable prerequisite for providing platform-based smart city services. Smart city services are delivered through edge computing to provide low-latency applications. However, edge…
Sealed-bid auctions play a crucial role in blockchain ecosystems. Previous works introduced viable blockchain sealed-bid auction protocols, leveraging timed commitments for bid encryption. However, a crucial challenge remains unresolved in…
Blockchain is maintained as a global log between a network of nodes and uses cryptographic distributed protocols to synchronize the updates. As adopted by Bitcoin and Ethereum these update operations to the ledger are serialized, and…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
Blockchain technology is ushering in another break-out year, the challenge of blockchain still remains to be solved. This paper analyzes the features of Bitcoin and Bitcoin-NG system based on blockchain, proposes an improved method of…