Related papers: A Survey of Distributed Consensus Protocols for Bl…
Blockchains rely on economic incentives to ensure secure and decentralised operation, making incentive compatibility a core design concern. However, protocols are rarely deployed in isolation. Applications interact with the underlying…
Blockchain, as a distributed ledger technology, becomes increasingly popular, especially for enabling valuable cryptocurrencies and smart contracts. However, the blockchain software systems inevitably have many bugs. Although bugs in smart…
Blockchain has attracted significant attention in recent years due to its potential to revolutionize various industries by providing trustlessness. To comprehensively examine blockchain systems, this article presents both a macro-level…
A problem of developing the consensus protocols in public blockchain systems which spend a combination of energy and space resources is addressed. A technique is proposed that provides a flexibility for selection of the energy and space…
Blockchain is built on a peer-to-peer network that relies on frequent communications among the distributively located nodes. In particular, the consensus mechanisms (CMs), which play a pivotal role in blockchain, are communication…
Blockchain technology is among the fastest-growing technologies in the world today. It has been adopted in diverse areas but mostly in financial systems, such as Bitcoin cryptocurrency. Therefore, it is a niche that has attracted interest…
Since the inception of Bitcoin, the distributed systems community has shown interest in the design of efficient blockchain systems. However, initial blockchain applications (like Bitcoin) attain very low throughput, which has promoted the…
In this paper we describe the design components of the heterogenous multi-chain protocol Polkadot and explain how these components help Polkadot address some of the existing shortcomings of blockchain technologies. At present, a vast number…
Sharding is the prevalent approach to breaking the trilemma of simultaneously achieving decentralization, security, and scalability in traditional blockchain systems, which are implemented as replicated state machines relying on atomic…
Blockchain is an emerging decentralized data collection, sharing and storage technology, which have provided abundant transparent, secure, tamper-proof, secure and robust ledger services for various real-world use cases. Recent years have…
Reaching consensus -- a macroscopic state where the system constituents display the same microscopic state -- is a necessity in multiple complex socio-technical and techno-economic systems: their correct functioning ultimately depends on…
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)…
Extensive research on Nakamoto-style consensus protocols has shown that network delays degrade the security of these protocols. Established results indicate that, perhaps surprisingly, maximal security is achieved when the network is as…
Transaction throughput, confirmation latency and confirmation reliability are fundamental performance measures of any blockchain system in addition to its security. In a decentralized setting, these measures are limited by two underlying…
Blockchain has recently attracted the attention of the industry due, in part, to its ability to automate asset transfers. It requires distributed participants to reach a consensus on a block despite the presence of malicious (a.k.a.…
Blockchain is a decentralized ledger used to securely exchange digital currency, perform deals and transactions efficient manner, each user of the network has access to the least copy of the encrypted ledger so that they can validate a new…
Blockchain, as the basis for cryptocurrencies, has received extensive attentions recently. Blockchain serves as an immutable distributed ledger technology which allows transactions to be carried out credibly in a decentralized environment.…
Recently, we saw the emergence of consensus-based database systems that promise resilience against failures, strong data provenance, and federated data management. Typically, these fully-replicated systems are operated on top of a…
Most current blockchains require all full nodes to execute all tasks limits the throughput of existing blockchains, which are well documented and among the most significant hurdles for the widespread adoption of decentralized technology.…
We investigate the relationship between underlying blockchain mechanism of cryptocurrencies and its distributional characteristics. In addition to price, we emphasise on using actual block size and block time as the operational features of…