Related papers: Prospective Hybrid Consensus for Project PAI

Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners, but consumes huge amount of energy. Proof-of-Stake chains are energy-efficient, have fast finality and accountability, but…

The blockchain data structure maintained via the longest-chain rule---popularized by Bitcoin---is a powerful algorithmic tool for consensus algorithms. Such algorithms achieve consistency for blocks in the chain as a function of their depth…

Mining attacks enable an adversary to procure a disproportionately large portion of mining rewards by deviating from honest mining practices within the PoW-based blockchain system. In this paper, we demonstrate that the security…

Due to the rapid development of quantum computing, many classical blockchain technologies are now considered insecure. The emergence of quantum blockchain holds promise for addressing this issue. Various quantum consensus algorithms have…

Distributed Ledger Technologies (DLTs), when managed by a few trusted validators, require most but not all of the machinery available in public DLTs. In this work, we explore one possible way to profit from this state of affairs. We devise…

Proof-of-work (POW) schemes have been proposed in the past. One prominent system is HASHCASH (Back, 2002) which uses cryptographic puzzles . However, work by Laurie and Clayton (2004) has shown that for a uniform proof-of-work scheme on…

Fault-tolerant distributed systems move the trust in a single party to a majority of parties participating in the protocol. This makes blockchain based crypto-currencies possible: they allow parties to agree on a total order of transactions…

In this paper we propose a tokenization algorithm of Reversible Hybrid type, as defined in PCI DSS guidelines for designing a tokenization solution, based on a block cipher with a secret key and (possibly public) additional input. We…

Bitcoin uses blockchain technology and proof-of-work (PoW) mechanism where nodes spend computing resources and earn rewards in return for spending these resources. This incentive system has caused power to be significantly biased towards a…

In this paper we describe a prototype of a blockchain-in-a-box system which allows users to easily bootstrap the whole Ethereum Proof-of-Work (PoW) network running on multiple Raspberry Pi nodes - an inexpensive modular computers. Users are…

In this paper, we informally introduce the Pulsar proof of stake consensus paper and discuss the relevant design decisions and considerations. The Pulsar protocol we propose is designed to facilitate the creation of a proof of stake…

The consensus algorithm is crucial in blockchain for ensuring the validity and security of transactions across the decentralized network. However, achieving consensus among nodes and packaging blocks in blockchain networks is a complex task…

In this paper, we propose a trust-centric privacy-preserving blockchain for dynamic spectrum access in IoT networks. To be specific, we propose a trust evaluation mechanism to evaluate the trustworthiness of sensing nodes and design a…

Proof-of-work(PoW) is an algorithmic tool used to secure networks by imposing a computational cost on participating devices. Unfortunately, traditional PoW schemes require that correct devices perform significant computational work in…

The aim of this work is to enhance blockchain security by deepening the understanding of selfish mining attacks in various consensus protocols, especially the ones that have the potential to mitigate selfish mining. Previous research was…

Decentralization is a foundational principle of permissionless blockchains, with consensus mechanisms serving a critical role in its realization. This study quantifies the decentralization of consensus mechanisms in proof-of-stake (PoS)…

Does the proof-of-work protocol serve its intended purpose of supporting decentralized cryptocurrency mining? To address this question, we develop a game-theoretical model where miners first invest in hardware to improve the efficiency of…

Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…

Proof-of-stake blockchain protocols have emerged as a compelling paradigm for organizing distributed ledger systems. In proof-of-stake (PoS), a subset of stakeholders participate in validating a growing ledger of transactions. For the…

Proof-of-Work mining is intended to provide blockchains with robustness against double-spend attacks. However, an economic analysis that follows from Budish (2018), which considers free entry conditions together with the ability to rent…