Related papers: Assessing Security and Performances of Consensus a…
Proof of Stake (PoS) protocols rely on voting mechanisms to reach consensus on the current state. If an enhanced majority of staking nodes, also called validators, agree on a proposed block, then this block is appended to the blockchain.…
Decentralisation is one of the promises introduced by blockchain technologies: fair and secure interaction amongst peers with no dominant positions, single points of failure or censorship. Decentralisation, however, appears difficult to be…
The blockchain concept forms the backbone of a new wave technology that promises to be deployed extensively in a wide variety of industrial and societal applications. Governments, financial institutions, banks, industrial supply chains,…
Blockchain technology promises to democratize finance and promote social equity through decentralization, but questions remain about whether current implementations advance or hinder these goals. Through a mixed-methods study combining…
Blockchain technology and related frameworks have recently received extensive attention. Blockchain systems use multi-party consensus protocols to reach agreements on transactions. Hyperledger Fabric framework exposes a multi-party…
Consensus mechanism is the core technology for blockchain to ensure that transactions are executed in sequence. It also determines the decentralization, security, and efficiency of blockchain. Existing mechanisms all have certain…
Ensuring the correctness of distributed system implementations remains a challenging and largely unaddressed problem. In this paper we present a protocol that can be used to certify the safety of consensus implementations. Our proposed…
A lot of business and research effort currently deals with the so called decentralised ledger technology blockchain. Putting it to use carries the tempting promise to make the intermediaries of social interactions superfluous and…
The most essential component of every Distributed Ledger Technology (DLT) is the Consensus Algorithm (CA), which enables users to reach a consensus in a decentralized and distributed manner. Numerous CA exist, but their viability for…
Blockchain has many benefits including decentralization, availability, persistency, consistency, anonymity, auditability and accountability, and it also covers a wide spectrum of applications ranging from cryptocurrency, financial services,…
Blockchain is a radical innovation with a unique value proposition that shifts trust from institutions to algorithms. Still, the potential of blockchains remains elusive due to knowledge gaps between computer science research and…
Blockchain, as the basis for cryptocurrencies, has received extensive attentions recently. Blockchain serves as an immutable distributed ledger technology which allows transactions to be carried out credibly in a decentralized environment.…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…
Modern distributed systems rely on consensus protocols to build a fault-tolerant-core upon which they can build applications. Consensus protocols are correct under a specific failure model, where up to $f$ machines can fail. We argue that…
Game theory is often used as a tool to analyze decentralized systems and their properties, in particular, blockchains. In this note, we take the opposite view. We argue that blockchains can and should be used to implement economic…
The set of distributed ledger architectures known as blockchain is best known for cryptocurrency applications such as Bitcoin and Ethereum. These permissionless block chains are showing the potential to be disruptive to the financial…
Modern distributed applications in healthcare, supply chain, and the Internet of Things handle a large amount of data in a diverse application setting with multiple stakeholders. Such applications leverage advanced artificial intelligence…
Blockchain technology is among the fastest-growing technologies in the world today. It has been adopted in diverse areas but mostly in financial systems, such as Bitcoin cryptocurrency. Therefore, it is a niche that has attracted interest…
Most of today's online services (e.g., social networks, search engines, market places) are centralized, which is recognized as unsatisfactory by a majority of users for various reasons (e.g., centralized governance, censorship, loss of…
The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof of Work. Here, we point out an…