Related papers: Blockchain Mining Games with Pay Forward
The world economy is experiencing the novel adoption of distributed currencies that are free from the control of central banks. Distributed currencies suffer from extreme volatility, and this can lead to catastrophic implications during…
The mining of bitcoin is modeled using system dynamics, showing that the past evolution of the network hash rate can be explained to a large extent by an efficient market hypothesis applied to the mining of blocks. The possibility of a…
In most popular public accessible cryptocurrency systems, the mining pool plays a key role because mining cryptocurrency with the mining pool turns the non-profitable situation into profitable for individual miners. In many recent novel…
We make several contributions that quantify the real-time hash rate and therefore the consensus of a blockchain. We show that by using only the hash value of blocks, we can estimate and measure the hash rate of all miners or individual…
Blockchain technology is ushering in another break-out year, the challenge of blockchain still remains to be solved. This paper analyzes the features of Bitcoin and Bitcoin-NG system based on blockchain, proposes an improved method of…
Proof-of-work (PoW) cryptocurrencies rely on a balance of security and fairness in order to maintain a sustainable ecosystem of miners and users. Users demand fast and consistent transaction confirmation, and in exchange drive the adoption…
The past decade has witnessed the burgeoning and continuous development of blockchain and its applications. Besides various cryptocurrencies, an industry that has quickly embraced this trend is gaming. Thanks to the support of blockchain,…
Modern blockchain applications benefit from the ability to specify sequencing constraints on the transactions that interact with them. This paper proposes a principled and axiomatically justified way of adding sequencing constraints on…
This paper opts to mitigate the energy-inefficiency of the Blockchain Proof-of-Work (PoW) consensus algorithm by rationally repurposing the power spent during the mining process. The original PoW mining scheme is designed to consider one…
The Bitcoin cryptocurrency has received much attention recently. In the network of Bitcoin, transactions are recorded in a ledger. In this network, the process of recording transactions depends on some nodes called miners that execute a…
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…
Mining in the blockchain requires high computing power to solve the hash puzzle for example proof-of-work puzzle. It takes high cost to achieve the calculation of this problem in devices of IOT, especially the mobile devices of IOT. It…
Cryptocurrency achieves distributed consensus using proof of work (PoW). Prior research in blockchain security identified financially incentivized attacks based on withholding blocks which have the attacker compromise a victim pool and pose…
Consider a set of parties invited to execute a protocol $\Pi$. The protocol will incur some cost to run while in the end (or at regular intervals), it will populate and update local tables that assign (virtual) rewards to participants. Each…
We propose a bitcoin generalization as a solution to the problem of scalability. The block is redefined as a sequence of sub-blocks of increasing sizes that coexist as different levels of compromise between decentralization and transactions…
Bitcoin and other similar digital currencies on blockchains are not ideal means for payment, because their prices tend to go up in the long term (thus people are incentivized to hoard those currencies), and to fluctuate widely in the short…
Micropayment channels are the most prominent solution to the limitation on transaction throughput in current blockchain systems. However, in practice channels are risky because participants have to be online constantly to avoid fraud, and…
We discuss the issue of what we call {\em incentive mismatch}, a fundamental problem with public blockchains supported by economic incentives. This is an open problem, but one potential solution is to make application portable. Portability…
Banking as an essential service can be hard to access in remote, rural regions where the network connectivity is intermittent. Although micro-banking has been made possible by SMS or USSD messages in some places, their security flaws and…
With the support of the blockchain systems, the cryptocurrency has changed the world of virtual assets. Digital games, especially those with massive multi-player scenarios, will be significantly impacted by this novel technology. However,…