Related papers: Mind the Mining
Cloud computing has become an irreversible trend. Together comes the pressing need for verifiability, to assure the client the correctness of computation outsourced to the cloud. Existing verifiable computation techniques all have a high…
We propose a model suggesting that honest-but-rational consensus participants may play timing games, and strategically delay their block proposal to optimize MEV capture, while still ensuring the proposal's timely inclusion in the canonical…
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…
A recent trend in multi-party computation is to achieve cryptographic fairness via monetary penalties, i.e. each honest player either obtains the output or receives a compensation in the form of a cryptocurrency. We pioneer another type of…
Given the parallels between game theory and consensus, it makes sense to intelligently design blockchain or DAG protocols with an incentive-compatible-first mentality. To that end, we propose a new blockchain or DAG protocol enhancement…
The evaluation of logic locking methods has long been predicated on an implicit assumption that only the correct key can unveil the true functionality of a protected circuit. Consequently, a locking technique is deemed secure if it resists…
Stubborn mining attack greatly downgrades Bitcoin throughput and also benefits malicious miners (attackers). This paper aims to quantify the impact of block receiving delay on stubborn mining attack severity in imperfect Bitcoin networks.…
In the context of the `selfish-mine' strategy proposed by Eyal and Sirer, we study the effect of propagation delay on the evolution of the Bitcoin blockchain. First, we use a simplified Markov model that tracks the contrasting states of…
The smart grid is envisioned to significantly enhance the efficiency of energy consumption, by utilizing two-way communication channels between consumers and operators. For example, operators can opportunistically leverage the delay…
GHOST, like the longest-chain protocol, is a chain selection protocol and its capability in resisting selfish mining attack has been validated in imperfect blockchains of Bitcoin and its variants (Bitcoin-like). This paper explores an…
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…
Smart contracts are stateful programs deployed on blockchains; they secure over a trillion dollars in transaction value per year. High-stakes smart contracts often rely on timely alerts about external events, but prior work has not analyzed…
In 2008, Satoshi Nakamoto proposed an electronic cash system (bitcoin) that is completely realized by peer-to-peer technology. The core value of this scheme is that it proposes a solution based on Proof-of Work, so that the cash system can…
Different types of malicious activities have been flagged in multiple permissionless blockchains such as bitcoin, Ethereum etc. While some malicious activities exploit vulnerabilities in the infrastructure of the blockchain, some target its…
In this paper we consider a scenario where there are several algorithms for solving a given problem. Each algorithm is associated with a probability of success and a cost, and there is also a penalty for failing to solve the problem. The…
The goal of this paper is to explore the relationship between momentum effects and liquidity in cryptocurrency markets. Portfolios based on momentum-liquidity bivariate sorts are formed and rebalanced on a varying number of cryptocurrencies…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
Machine learning and AI-assisted trading have attracted growing interest for the past few years. Here, we use this approach to test the hypothesis that the inefficiency of the cryptocurrency market can be exploited to generate abnormal…
A popular computer puzzle, the game of Minesweeper requires its human players to have a mix of both luck and strategy to succeed. Analyzing these aspects more formally, in our research we assessed the feasibility of a novel methodology…
Cryptocurrency mining processes always lead to a high energy consumption at considerably high production cost, which is nearly one-third of cryptocurrency (e.g. Bitcoin) price itself. As the core of mining process is based on SHA-256…