Related papers: Proof of Mining in Blockchain Systems
Blockchain systems rely on decentralized ledgers and strong security guarantees. A key requirement is non-repudiation, which prevents denial of transaction authorship and supports integrity of recorded data. This work surveys digital…
Blockchains have popularized automated market makers (AMMs). An AMM exchange is an application running on a blockchain which maintains a pool of crypto-assets and automatically trades assets with users governed by some pricing function that…
Proof-of-Stake systems randomly choose, on each round, one of the participants as a consensus leader that extends the chain with the next block such that the selection probability is proportional to the owned stake. However, distributed…
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…
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.…
Bitcoin blockchain uses hash-based Proof-of-Work (PoW) that prevents unwanted participants from hogging the network resources. Anyone entering the mining game has to prove that they have expended a specific amount of computational power.…
We model and analyze blockchain miners who seek to maximize the compound return of their mining businesses. The analysis of the optimal strategies finds a new equilibrium point among the miners and the mining pools, which predicts the…
We study a game-theoretic model of blockchain mining economies and show that griefing, a practice according to which participants harm other participants at some lesser cost to themselves, is a prevalent threat at its Nash equilibria. The…
This master thesis deals with Blockchain Technology in mobile turn based peer to peer games. First, it investigates the capabilities of Blockchain Technology to be used for gaming applications. In this regard, among others,…
Cryptocurrencies have gained popularity due to their transparency, security, and accessibility compared to traditional financial systems, with Bitcoin, introduced in 2009, leading the market. Bitcoin's security relies on blockchain…
Blockchain technology is a breakthrough in changing the ways of business and organization operations, in which the consensus problem is challenging with practical constraints, such as computational power and consensus standard. In this…
The blocks in the Bitcoin blockchain record the amount of work W that went into creating them through proofs of work. When honest parties control a majority of the work, consensus is achieved by picking the chain with the highest recorded…
Blockchain technology has become a trusted method for establishing secure and transparent transactions through a distributed, encrypted network. The operation of blockchain is governed by consensus algorithms, among which Proof of Stake…
This paper studies a fundamental problem regarding the security of blockchain PoW consensus on how the existence of multiple misbehaving miners influences the profitability of selfish mining. Each selfish miner (or attacker interchangeably)…
Blockchain technology enables secure, transparent data management in decentralized systems, supporting applications from cryptocurrencies like Bitcoin to tokenizing real-world assets like property. Its scalability and sustainability hinge…
Proof-of-Work (PoW) is a fundamental underlying technology behind most major blockchain cryptocurrencies. It has been previously pointed out that quantum devices provide a computational advantage in performing PoW in the context of Bitcoin.…
A new variation of blockchain proof of work algorithm is proposed to incentivize the timely execution of image processing algorithms. A sample image processing algorithm is proposed to determine interesting images using analysis of the…
Proof-of-work blockchains need to be carefully designed so as to create the proper incentives for miners to faithfully maintain the network in a sustainable way. This paper describes how the economic engineering of the Conflux Network, a…
This research study focuses primarily on Block-Chain-based voting systems, which facilitate participation in and administration of voting for voters, candidates, and officials. Because we used Block-Chain in the backend, which enables…
We propose DIPS Difficulty-based Incentives for Problem Solving), a simple modification of the Bitcoin proof-of-work algorithm that rewards blockchain miners for solving optimization problems of scientific interest. The result is a…