Related papers: Adapting Blockchain Technology for Scientific Comp…
In this paper, we represent the problem of selecting miners within a blockchain-based system as a subset selection problem. We formulate the problem of minimising blockchain energy consumption as an optimisation problem with two conflicting…
Formalization of mathematics is the process of digitizing mathematical knowledge, which allows for formal proof verification as well as efficient semantic searches. Given the large and ever-increasing gap between the set of formalized and…
We discuss the issue of what we call {\em incentive mismatch}, a fundamental problem with public blockchains supported by economic incentives. This is an open problem, but one potential solution is to make application portable. Portability…
We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and validators. Validators are system maintainers who get rewarded…
Blockchains provide environments where parties can interact transparently and securely peer-to-peer without needing a trusted third party. Parties can trust the integrity and correctness of transactions and the verifiable execution of…
Blockchain represents a technology for establishing a shared, immutable version of the truth between a network of participants that do not trust one another, and therefore has the potential to disrupt any financial or other industries that…
The blockchain data structure maintained via the longest-chain rule---popularized by Bitcoin---is a powerful algorithmic tool for consensus algorithms. Such algorithms achieve consistency for blocks in the chain as a function of their depth…
This paper examines the economic and security implications of Proof-of-Stake (POS) designs, providing a survey of POS design choices and their underlying economic principles in prominent POS-blockchains. The paper argues that…
In this paper, the authors propose to increase the efficiency of blockchain mining by using a population-based approach. Blockchain relies on solving difficult mathematical problems as proof-of-work within a network before blocks are added…
Blockchain is an emerging decentralized data collection, sharing and storage technology, which have provided abundant transparent, secure, tamper-proof, secure and robust ledger services for various real-world use cases. Recent years have…
We present the new mining protocol Proof-of-Reputation (PoR) for decentralized Proof-of-Work (PoW) blockchains, in particular for Bitcoin. PoR combines the classical PoW with the new ingredient of cryptographic reputation. The same level of…
A major problem in blockchain-based supply chain management is the potential unreliability of digital twins when considering digital representations of physical goods. Indeed, the use of blockchain technology to trace goods is obviously…
Mining is the important part of the blockchain used the proof of work (PoW) on its consensus, looking for the matching block through testing a number of hash calculations. In order to attract more hash computing power, the miner who finds…
Blockchain technology has evolved from being an immutable ledger of transactions for cryptocurrencies to a programmable interactive the environment for building distributed reliable applications. Although, blockchain technology has been…
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…
We analyze the economic incentives generated by the proof-of-stake mechanism discussed in the Ethereum Casper upgrade proposal. Compared with proof-of-work, proof-of-stake has a different cost structure for attackers. In Budish (2018),…
Technology has been playing a major role in our lives. One definition for technology is all the knowledge, products, processes, tools,methods and systems employed in the creation of goods or in providing services.This makes technological…
We describe a prototype of a fully capable Ethereum Proof-of-Work (PoW) blockchain network running on multiple Raspberry Pi (RPi) computers. The prototype is easy to set up and is intended to function as a completely standalone system,…
This paper studies a fundamental problem regarding the security of blockchain PoW consensus on how the existence of multiple misbehaving miners influences the profitability of selfish mining. Each selfish miner (or attacker interchangeably)…
Swarms of robots will revolutionize many industrial applications, from targeted material delivery to precision farming. However, several of the heterogeneous characteristics that make them ideal for certain future applications --- robot…