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In a blockchain system, consensus protocol as an incentive and security mechanism, is to ensure the participants to build the block honestly and effectively. There are different consensus protocols for blockchain, like Proof of work (PoW),…
As an emerging decentralized secure data management platform, blockchain has gained much popularity recently. To maintain a canonical state of blockchain data record, proof-of-work based consensus protocols provide the nodes, referred to as…
As smart contract platforms autonomously manage billions of dollars of capital, quantifying the portfolio risk that investors engender in these systems is increasingly important. Recent work illustrates that Proof of Stake (PoS) is…
In a previous paper, it was discussed whether Bitcoin and/or its blockchain could be considered a complex system and, if so, whether a chaotic one, a positive response raising concerns about the likelihood of Bitcoin/blockchain entering a…
Although proof of work (PoW) consensus dominates the current blockchain-based systems mostly, it has always been criticized for the uneconomic brute-force calculation. As alternatives, energy-conservation and energy-recycling mechanisms…
Blockchain protocols differ in fundamental ways, including the mechanics of selecting users to produce blocks (e.g., proof-of-work vs. proof-of-stake) and the method to establish consensus (e.g., longest chain rules vs. BFT-inspired…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
We introduce a model for decentralized networks with collaborating peers. The model is based on the stable matching theory which is applied to systems with a global ranking utility function. We consider the dynamics of peers searching for…
We investigate the behavior of liquidity providers (LPs) by modeling a decentralized cryptocurrency exchange (DEX) based on Uniswap v3. LPs with heterogeneous characteristics choose optimal liquidity positions subject to uncertainty…
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…
Recently, many Delegated Proof-of-Stake (DPoS)-based blockchains have been widely used in decentralized applications, such as EOSIO, Tron, and Binance Smart Chain. Compared with traditional PoW-based blockchain systems, these systems…
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…
Mining blocks on a blockchain equipped with a proof of work consensus protocol is well-known to be resource-consuming. A miner bears the operational cost, mainly electricity consumption and IT gear, of mining, and is compensated by a…
In this study, we examine the behavior and profitability of modern malware that mines cryptocurrency. Unlike previous studies, we look at the cryptocurrency market as a whole, rather than just Bitcoin. We not only consider PCs, but also…
An enormous amount of energy is wasted in Proofof-Work (PoW) mechanisms adopted by popular blockchain applications (e.g., PoW-based cryptocurrencies), because miners must conduct a large amount of computation. Owing to this, one serious…
Bitcoin is a popular digital currency for online payments, realized as a decentralized peer-to-peer electronic cash system. Bitcoin keeps a ledger of all transactions; the majority of the participants decides on the correct ledger. Since…
Context: Mining software repositories is a popular means to gain insights into a software project's evolution, monitor project health, support decisions and derive best practices. Tools supporting the mining process are commonly applied by…
Blockchains revolutionized centralized sectors like banking and finance by promoting decentralization and transparency. In a blockchain, information is transmitted through transactions issued by participants or applications. Miners…
Filters are the basic and most important blocks of most signal processing applications. In many applications, a group of parallel filters are used as filter banks. Parallel filter banks naturally require much more computations. Especially…
Soon after its introduction in 2009, Bitcoin has been adopted by cyber-criminals, which rely on its pseudonymity to implement virtually untraceable scams. One of the typical scams that operate on Bitcoin are the so-called Ponzi schemes.…