Related papers: Evolutionary Game for Consensus Provision in Permi…
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…
Distributed control systems require high reliability and availability guarantees despite often being deployed at the edge of network infrastructure. Edge computing resources are less secure and less reliable than centralized resources in…
Many studies have been done to improve the performance of centrally controlled business processes and enhance the integration between different parties of these collaborations. However, the most serious issues of collaborative business…
Permissioned blockchains have been proposed for a variety of use cases that require decentralization yet address enterprise requirements that permissionless blockchains to date cannot satisfy -- particularly in terms of performance.…
A blockchain replaces central counterparties with time-consuming consensus protocols to record the transfer of ownership. This settlement latency slows cross-exchange trading, exposing arbitrageurs to price risk. Off-chain settlement,…
Blockchain-based cryptocurrencies secure a decentralized consensus protocol by incentives. The protocol participants, called miners, generate (mine) a series of blocks, each containing monetary transactions created by system users. As…
This paper extends the blockchain sustainability framework of Budish (2018) to consider proof of stake (in addition to proof of work) consensus mechanisms and permissioned (where the number of nodes are fixed) networks. It is demonstrated…
The increasing application and deployment of blockchain in various services necessitates the assurance of the effectiveness of PBFT (Practical Byzantine Fault Tolerance) consensus service. However, the performance of PBFT consensus service…
Blockchain technologies can enable secure computing environments among mistrusting parties. Permissioned blockchains are particularly enlightened by companies, enterprises, and government agencies due to their efficiency, customizability,…
In this paper, we present a pricing mechanism that aligns incentives of agents who exchange resources on a decentralized ledger with the goal of maximizing transaction throughput. Subdividing a blockchain ledger into shards promises to…
Distributed ledger technology such as blockchain is considered essential for supporting large numbers of micro-transactions in the Machine Economy, which is envisioned to involve billions of connected heterogeneous and decentralized…
This paper presents Conflux, a fast, scalable and decentralized blockchain system that optimistically process concurrent blocks without discarding any as forks. The Conflux consensus protocol represents relationships between blocks as a…
Traditional Blockchain Sharding approaches can only tolerate up to n/3 of nodes being adversary because they rely on the hypergeometric distribution to make a failure (an adversary does not have n/3 of nodes globally but can manipulate the…
The practical Byzantine fault tolerant (PBFT) consensus mechanism is one of the most basic consensus algorithms (or protocols) in blockchain technologies, thus its performance evaluation is an interesting and challenging topic due to a…
Blockchain technology facilitates the development of decentralized systems that ensure trust and transparency without the need for expensive centralized intermediaries. However, existing blockchain architectures particularly consortium…
With the advancement of blockchain systems, many recent research works have proposed distributed ledger technology~(DLT) that employs Byzantine fault-tolerant~(BFT) consensus protocols to decide which block to append next to the ledger.…
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 proof-of-randomness (PoR) protocol is presented as a fair and low energy-cost consensus mechanism for blockchains. Each network node of a blockchain may use a true random number generator (TRNG) and hash algorism to fulfil the PoR…
Many blockchain-based protocols, such as Bitcoin, implement a decentralized asset transfer (or exchange) system. As clearly stated in the original paper by Nakamoto, the crux of this problem lies in prohibiting any participant from engaging…
Some of the recent blockchain proposals, such as Stellar and Ripple, allow for open membership while using quorum-like structures typical for classical Byzantine consensus with closed membership. This is achieved by constructing quorums in…