Related papers: Payment Network Design with Fees
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
Stablecoins have emerged as a rapidly growing digital payment instrument, raising the question of whether blockchain-based settlement can function as a substitute for incumbent card networks in retail payments. This Systematization of…
Blockchains are widely used for secure transaction processing, but their scalability remains limited, and existing multichain designs are typically static even as demand and capacity shift. We cast blockchain configuration as a multiagent…
In this paper, we consider the problem of recovering a graph that represents the statistical data dependency among nodes for a set of data samples generated by nodes, which provides the basic structure to perform an inference task, such as…
This work applies reinforcement learning (RL) from the AI machine learning field to derive an optimal Bitcoin-like blockchain mining strategy without knowing the details of the blockchain network model. Previously, the most profitable…
Payment channel networks are an approach to improve the scalability of blockchain-based cryptocurrencies. Because payment channel networks are used for transfer of financial value, their security in the presence of adversarial participants…
Optimizing asset exchanges on blockchain-driven platforms poses a novel and challenging graph query optimization problem. In this model, assets represent vertices and exchanges form edges, recasting the graph query task as a routing problem…
A payment network contains transactions between sellers and buyers. Detecting risky (or bad) sellers on such a payment network is crucial to payment service providers for risk management and legal compliance. In this research, we formulate…
Blockchain-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We…
Sharding has emerged as a key technique to address blockchain scalability by partitioning the ledger into multiple shards that process transactions in parallel. Although this approach improves throughput, static or heuristic shard…
Most permissionless blockchain networks run on peer-to-peer (P2P) networks, which offer flexibility and decentralization at the expense of performance (e.g., network latency). Historically, this tradeoff has not been a bottleneck for most…
In the Bitcoin system, transaction fees serve as an incentive for blockchain confirmations. In general, a transaction with a higher fee is likely to be included in the next block mined, whereas a transaction with a smaller fee or no fee may…
The network pricing problem (NPP) is a bilevel problem, where the leader optimizes its revenue by deciding on the prices of certain arcs in a graph, while expecting the followers (also known as the commodities) to choose a shortest path…
This paper examines the economic and security implications of Proof-of-Stake (POS) designs, providing a survey of POS design choices and their underlying economic principles in prominent POS-blockchains. The paper argues that…
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…
We consider a cost sharing problem to connect all nodes in a weighted undirected graph, where the weight of each edge represents the cost to use the edge for the connectivity and the cost has to be shared among all connected nodes. There is…
While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure…
Serving as a potential future Internet architecture, Named Data Network (NDN) offers superior information-centric architectural support for mobile ad-hoc networking. Using NDN as an underlying protocol, end-user devices (e.g. IoT device and…
Mining in proof-of-work blockchains has become an expensive affair requiring specialized hardware capable of executing several megahashes per second at huge electricity costs. Miners earn a reward each time they mine a block within the…