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We argue that the current POW based consensus algorithm of the Bitcoin network suffers from a fundamental economic discrepancy between the real world transaction (txn) costs incurred by miners and the wealth that is being transacted. Put…
Sidechains are an appealing innovation devised to enable blockchain scalability and extensibility. The basic idea is simple yet powerful: construct a parallel chain -- sidechain -- with desired features, and provide a way to transfer coins…
This paper presents Wrapless -- a lending protocol that enables the collateralization of bitcoins without requiring a trusted wrapping mechanism. The protocol facilitates a "loan channel" on the Bitcoin blockchain, allowing bitcoins to be…
The Internet of Things (IoT) is transforming our physical world into a complex and dynamic system of connected devices on an unprecedented scale. Connecting everyday physical objects is creating new business models, improving processes and…
A large number of consensus algorithms have been proposed. However, the requirement of strict consistency limits their wide adoption, especially in high-performance required systems. In this paper, we propose a weak consensus algorithm that…
Synchronous consensus protocols offer a significant advantage over their asynchronous and partially synchronous counterparts by providing higher fault tolerance -- an essential benefit in distributed systems, like blockchains, where…
Blockchain technology has advanced rapidly in recent years and is now widely used in a variety of fields. Blockchain appears to be one of the best solutions for managing massive heterogeneous devices while achieving advanced data security…
We give an explicit definition of decentralization and show you that decentralization is almost impossible for the current stage and Bitcoin is the first truly noncentralized currency in the currency history. We propose a new framework of…
In modern science, the growing complexity of large-scale scientific projects has led to an increasing reliance on cross-facility scientific workflows, where resources and expertise from multiple institutions and geographic locations are…
Blockchain has been deemed as a promising solution for providing security and privacy protection in the next-generation wireless networks. Large-scale concurrent access for massive wireless devices to accomplish the consensus procedure may…
In the cryptographic currency Bitcoin, all transactions are recorded in the blockchain - a public, global, and immutable ledger. Because transactions are public, Bitcoin and its users employ obfuscation to maintain a degree of financial…
Bitcoin is the first and the most extensive decentralized electronic cryptocurrency system that uses blockchain technology. It uses a peer-to-peer (P2P) network to operate without a central authority and propagate system information such as…
The maturing of blockchain technology leads to heterogeneity, where multiple solutions specialize in a particular use case. While the development of different blockchain networks shows great potential for blockchains, the isolated networks…
Bitcoin is a top-ranked cryptocurrency that has experienced huge growth and survived numerous attacks. The protocols making up Bitcoin must therefore accommodate the growth of the network and ensure security. Security of the Bitcoin network…
Off-chain protocols (channels) are a promising solution to the scalability and privacy challenges of blockchain payments. Current proposals, however, require synchrony assumptions to preserve the safety of a channel, leaking to an adversary…
Distributed ledger systems, such as blockchains, rely on consensus protocols that commit ordered messages for processing. In practice, message ordering within these systems is often reward-driven. This raises concerns about fairness,…
The rapid evolution of blockchain technology has brought together stakeholders from fundamentally different backgrounds. The result is a diverse ecosystem, as exemplified by the development of a wide range of different blockchain protocols.…
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…
Off-Chain transactions allow for the immediate transfer of Cryptocurrency between two parties, without delays or unavoidable transaction fees. Such capabilities are critical for mainstream Cryptocurrency adaption. They allow for the…
Blockchains implement decentralized monetary systems and applications. Recent advancements enable what we call tethering a blockchain to a primary blockchain, securing the tethered chain by nodes that post primary-chain tokens as…