Related papers: Betting on Blockchain Consensus with Fantomette
The security of blockchain systems is fundamentally based on the decentralized consensus in which the majority of parties behave honestly, and the content verification process is essential to maintaining the robustness of blockchain…
The blockchain has found numerous applications in many areas with the expectation to significantly enhance their security. The Internet of things (IoT) constitutes a prominent application domain of blockchain, with a number of architectures…
The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other domains are its…
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…
The goal of this paper is to establish the general framework of consensus equilibria for Mining-Pool Games in Blockchain Ecosystems, and with the explanation for the stability of in terms of the existence of consensus equilibria related to…
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…
Classical and contemporary distributed consensus protocols, may they be for binary agreement, state machine replication, or blockchain consensus, require all protocol participants in a peer-to-peer system to agree on exactly the same…
Proof-of-Stake systems randomly choose, on each round, one of the participants as a consensus leader that extends the chain with the next block such that the selection probability is proportional to the owned stake. However, distributed…
We improve the fundamental security threshold of eventual consensus Proof-of-Stake (PoS) blockchain protocols under the longest-chain rule by showing, for the first time, the positive effect of rounds with concurrent honest leaders. Current…
Blockchain and distributed ledger technologies rely on distributed consensus algorithms. In recent years many consensus algorithms and protocols have been proposed; most of them are for permissioned blockchain networks. However, the…
The Nakamoto consensus protocol underlying the Bitcoin blockchain uses proof of work as a voting mechanism. Honest miners who contribute hashing power towards securing the chain try to extend the longest chain they are aware of. Despite its…
Blockchain technology has become a trusted method for establishing secure and transparent transactions through a distributed, encrypted network. The operation of blockchain is governed by consensus algorithms, among which Proof of Stake…
Low transaction throughput and poor scalability are significant issues in public blockchain consensus protocols such as Bitcoins. Recent research efforts in this direction have proposed shard-based consensus protocols where the key idea is…
Blockchain consensus mechanisms have relied on algorithms such as Proof-of-Work (PoW) and Proof-of-Stake (PoS) to ensure network functionality and integrity. However, these approaches struggle with adaptability for decision-making where the…
We study game-theoretic models for capturing participation in blockchain systems. Permissionless blockchains can be naturally viewed as games, where a set of potentially interested users is faced with the dilemma of whether to engage with…
Quantum blockchains provide inherent resilience against quantum adversaries and represent a promising alternative to classical blockchain systems in the quantum era. However, existing quantum blockchain architectures largely depend on…
Optimistic responsiveness -- the ability of a consensus protocol to operate at the speed of the network -- is widely used in consensus protocol design to optimize latency and throughput. However, blockchain applications incentivize…
The proof-of-work consensus protocol suffers from two main limitations: waste of energy and offering only probabilistic guarantees about the status of the blockchain. This paper introduces SklCoin, a new Byzantine consensus protocol and its…
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…
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…