Related papers: Incentives Don't Solve Blockchain's Problems
Blockchain has become a popular emergent technology in many industries. It is suitable for a broad range of applications, from its base role as an immutable distributed ledger to the deployment of distributed applications. Many…
Bitcoin was recently introduced as a peer-to-peer electronic currency in order to facilitate transactions outside the traditional financial system. The core of Bitcoin, the Blockchain, is the history of the transactions in the system…
Play-to-earn is one of the prospective categories of decentralized applications. The play-to-earn projects combine blockchain technology with entertaining games and finance, attracting various participants. While huge amounts of capital…
Blockchain stores information into a chain of "blocks", whose integrity is usually guaranteed by Proof of Work (PoW). In many blockchain applications (including cryptocurrencies), users compete with each other to win the ownership of the…
In this paper we describe the various scoring systems used to calculate rewards of participants in Bitcoin pooled mining, explain the problems each were designed to solve and analyze their respective advantages and disadvantages.
Blockchain is a decentralized, distributed ledger technology that ensures transparency, security, and immutability through cryptographic techniques. However, advancements in quantum computing threaten the security of classical cryptographic…
As an emerging service framework built by combining cryptography, P2P network, consensus mechanism and innovative contract technology, blockchain has been widely used in digital finance, data sharing, message traceability and electronic…
The internet of things (IoT) and other emerging ubiquitous technologies are supporting the rapid spread of smart systems, which has underlined the need for safe, open, and decentralized data storage solutions. With its inherent…
Most popular blockchain solutions, like Bitcoin, rely on proof-of-work, guaranteeing that the output of the consensus is agreed upon with high probability. However, this probability depends on the delivery of messages and that the…
While Proof-of-Work (PoW) is the most widely used consensus mechanism for blockchain, it received harsh criticism due to its massive waste of energy for meaningless hash calculation. Some studies have introduced Proof-of-Stake to address…
A decade long thrive of cryptocurrency has shown its potential as a source of alternative-finance and the security and the robustness of the underpinning blockchain technology. However, most cryptocurrencies fail to show inimitability and…
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…
Financial fraud cases are on the rise even with the current technological advancements. Due to the lack of inter-organization synergy and because of privacy concerns, authentic financial transaction data is rarely available. On the other…
One of the most innovative aspects of blockchain technology consists in the introduction of an incentive layer to regulate the behavior of distributed protocols. The designer of a blockchain system faces therefore issues that are akin to…
Client diversity is a cornerstone of blockchain resilience, yet most networks suffer from a dangerously skewed distribution of client implementations. This monoculture exposes the network to very risky scenarios, such as massive financial…
The long-term success of cryptocurrencies largely depends on the incentive compatibility provided to the validators. Bribery attacks, facilitated trustlessly via smart contracts, threaten this foundation. This work introduces, implements,…
Proponents of blockchains believe that this technology will revolutionize e-commerce. To evaluate this belief, we invite several groups of students to transact on a decentralized peer-to-peer marketplace built on the platform provided by…
On several proof-of-stake blockchains, agents engaged in validating transactions can open a pool to which others can delegate their stake in order to earn higher returns. We develop a model of staking pool formation in the presence of…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
The world-changing blockchain technique provides a novel method to establish a secure, trusted and decentralized system for solving the security and personal privacy problems in Industrial Internet of Things (IIoT) applications. The mining…