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Blockchain systems essentially consist of two levels: The network level has the responsibility of distributing an ordered stream of transactions to all nodes of the network in exactly the same way, even in the presence of a certain amount…
Recent Byzantine fault-tolerant (BFT) state machine replication (SMR) protocols increasingly focus on scalability to meet the requirements of distributed ledger technology (DLT). Validating the performance of scalable BFT protocol…
In blockchains such as Bitcoin and Ethereum, users compete in a transaction fee auction to get their transactions confirmed in the next block. A line of recent works set forth the desiderata for a "dream" transaction fee mechanism (TFM),…
Bitcoin is a representative decentralized currency system. For the security of Bitcoin, fairness in the distribution of mining rewards plays a crucial role in preventing the concentration of computational power in a few miners. Here,…
Blockchain offers a decentralized, immutable, transparent system of records. It offers a peer-to-peer network of nodes with no centralised governing entity making it unhackable and therefore, more secure than the traditional paper-based or…
A blockchain faces two fundamental challenges. It must motivate users to maintain the system while preventing a minority of these users from colluding and gaining disproportionate control. Many popular public blockchains use monetary…
With the development of decentralized consensus protocols, permissionless blockchains have been envisioned as a promising enabler for the general-purpose transaction-driven, autonomous systems. However, most of the prevalent blockchain…
Decentralized systems built around blockchain technology promise clients an immutable ledger. They add a transaction to the ledger after it undergoes consensus among the replicas that run a Proof-of-Stake (PoS) or Byzantine Fault-Tolerant…
Blockchain protocols typically aspire to run in the permissionless setting, in which nodes are owned and operated by a large number of diverse and unknown entities, with each node free to start or stop running the protocol at any time. This…
Existing research on federated learning has been focused on the setting where learning is coordinated by a centralized entity. Yet the greatest potential of future collaborative intelligence would be unleashed in a more open and…
A critical component of any blockchain or distributed ledger technology (DLT) platform is the consensus algorithm. Blockchain consensus algorithms are the primary vehicle for the nodes within a blockchain network to reach an agreement. In…
Decentralized Finance (DeFi) has emerged as a contemporary competitive as well as complementary to traditional centralized finance systems. As of 23rd January 2024, per Defillama approximately USD 55 billion is the total value locked on the…
We study blockchain trade-intent auctions, which currently intermediate about USD 10 billion in trades each month. These auctions are combinatorial because executing multiple trade intents jointly generates additional efficiencies. However,…
Traditional blockchain design gives miners or validators full control over transaction ordering, i.e., they can freely choose which transactions to include or exclude, as well as in which order. While not an issue initially, the emergence…
Low latency is one of the most desirable features of partially synchronous Byzantine consensus protocols. Existing low-latency protocols have achieved consensus with just two communication steps by reducing the maximum number of faults the…
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…
We present the notion of multilevel slashing, where proof-of-stake blockchain validators can obtain gradual levels of assurance that a certain block is bound to be finalized in a global consensus procedure, unless an increasing and…
Modern cryptocurrency systems, such as Ethereum, permit complex financial transactions through scripts called smart contracts. These smart contracts are executed many, many times, always without real concurrency. First, all smart contracts…
The long-term success of cryptocurrencies largely depends on the incentive compatibility provided to the validators. Bribery attacks, facilitated trustlessly via smart contracts, threaten this foundation. This work introduces, implements,…
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…