Related papers: Gruut: A Fully-Decentralized P2P Public Ledger
The digital currency Bitcoin has had remarkable growth since it was first proposed in 2008. Its distributed nature allows currency transactions without a central authority by using cryptographic methods and a data structure called the…
Despite their potential in many respects, blockchain and distributed ledger technology (DLT) technology have been the target of criticism for the energy intensity of the proof-of-work (PoW) consensus algorithm in general and of Bitcoin…
Proof-of-Work (PoW) is a popular consensus protocol used by Bitcoin since its inception. PoW has the well-known flaw of assigning all the reward to the single miner (or pool) that inserts the new block. This has the consequence of making…
Privacy-preserving blockchain systems are essential for protecting transaction data, yet they must also provide auditability that enables auditors to recover participant identities and transaction amounts when warranted. Existing designs…
Over the past decade, the Bitcoin P2P network protocol has become a reference model for all modern cryptocurrencies. While nodes in this network are known, the connections among them are kept hidden, as it is commonly believed that this…
The security of most existing cryptocurrencies is based on a concept called Proof-of-Work, in which users must solve a computationally hard cryptopuzzle to authorize transactions (`one unit of computation, one vote'). This leads to enormous…
A blockchain is an append-only linked-list of blocks, which is maintained at each participating node. Each block records a set of transactions and their associated metadata. Blockchain transactions act on the identical ledger data stored at…
Trust management systems often use registries to authenticate data, or form trust decisions. Examples are revocation registries and trust status lists. By introducing distributed ledgers (DLs), it is also possible to create decentralized…
Anti-piracy is fundamentally a procedure that relies on collecting data from the open anonymous population, so how to incentivize credible reporting is a question at the center of the problem. Industrial alliances and companies are running…
The security of blockchain systems depends on the distribution of mining power across participants. If sufficient mining power is controlled by one entity, they can force their own version of events. This may allow them to double spend…
Differential privacy (DP) has steadily become the de-facto standard for achieving privacy in data analysis, which is typically implemented either in the "central" or "local" model. The local model has been more popular for commercial…
Bitcoin is a decentralized, pseudonymous cryptocurrency that is one of the most used digital assets to date. Its unregulated nature and inherent anonymity of users have led to a dramatic increase in its use for illicit activities. This…
As global governments intensify efforts to operationalize retail central bank digital currencies (CBDCs), the imperative for architectures that preserve user privacy has never been more pronounced. This paper advances an existing retail…
Consensus algorithms play a critical role in blockchains and directly impact their performance. During consensus processing, nodes need to validate and order the pending transactions into a new block, which requires verifying the…
As an emerging decentralized secure data management platform, blockchain has gained much popularity recently. To maintain a canonical state of blockchain data record, proof-of-work based consensus protocols provide the nodes, referred to as…
Bitcoin and Ethereum, whose miners arguably collectively comprise the most powerful computational resource in the history of mankind, offer no more power for processing and verifying transactions than a typical smart phone. The system…
Bitcoin and many other similar Cryptocurrencies have been in existence for over a decade, prominently focusing on decentralized, pseudo-anonymous ledger-based transactions. Many protocol improvements and changes have resulted in new…
Since the inception of blockchain and Bitcoin (Nakamoto (2008)), a decentralized-distributed ledger system and its associated cryptocurrency, respectively, the world has witnessed a slew of newer adaptations and applications. Although the…
Blockchain technology emerged with the advent of Bitcoin and rapidly developed over the past few decades, becoming widely accepted and known by the public. However, in the past decades, the massive adoption of blockchain technology has yet…
Bitcoin is a peer-to-peer payment system proposed by Nakamoto in 2008. Properties of the bitcoin backbone protocol have been investigated in some depth: the blockchain growth property quantifies the number of blocks added to the blockchain…