Related papers: The Consensus Number of a Cryptocurrency (Extended…
This paper describes a simple and efficient asynchronous Binary Byzantine faulty tolerant consensus algorithm. In the algorithm, non-faulty nodes perform an initial broadcast followed by a executing a series of rounds each consisting of a…
Many of the problems that arise in the context of blockchains and decentralized finance can be seen as variations on classical problems of distributed computing. The smart contract model proposed here is intended to capture both the…
A blockchain is a distributed ledger for recording transactions, maintained by many nodes without central authority through a distributed cryptographic protocol. All nodes validate the information to be appended to the blockchain, and a…
In blockchain systems, especially cryptographic currencies such as Bitcoin, the double-spending and Byzantine-general-like problem are solved by reaching consensus protocols among all nodes. The state-of-the-art protocols include…
Blockchain technology enables stakeholders to conduct trusted data sharing and exchange without a trusted centralized institution. These features make blockchain applications attractive to enhance trustworthiness in very different contexts.…
Consensus in decentralized systems that asynchronously receive events and which are subject to Byzantine faults is a common problem with many real-life applications. Advances in decentralized systems, such as distributed ledger (i.e.,…
Consensus is one of the most fundamental distributed computing problems. In particular, it serves as a building block in many replication based fault-tolerant systems and in particular in multiple recent blockchain solutions. Depending on…
Existing Byzantine fault-tolerant (BFT) consensus protocols address only threshold failures, where the participating nodes fail independently of each other, each one fails equally likely, and the protocol's guarantees follow from a simple…
Bitcoin is the world's first decentralized digital currency. Its main technical innovation is the use of a blockchain and hash-based proof of work to synchronize transactions and prevent double-spending the currency. While the qualitative…
Byzantine general problem is the core problem of the consensus algorithm, and many protocols are proposed recently to improve the decentralization level, the performance and the security of the blockchain. There are two challenging issues…
The blockchain initially gained traction in 2008 as the technology underlying bitcoin, but now has been employed in a diverse range of applications and created a global market worth over $150B as of 2017. What distinguishes blockchains from…
A blockchain replaces central counterparties with time-consuming consensus protocols to record the transfer of ownership. This settlement latency slows cross-exchange trading, exposing arbitrageurs to price risk. Off-chain settlement,…
Are (set)-consensus objects necessary? This paper answer is negative. We show that the availability of consensus objects can be replaced by restricting the set of runs we consider. In particular we concentrate of the set of runs of the…
Blockchain based cryptocurrencies are usually unmanaged, distributed, consensus-based systems in which no single entity has control. Managed cryptocurrencies can be implemented using private blockchains but are fundamentally different as…
Consensus protocols have traditionally been studied in a setting where all participants are known to each other from the start of the protocol execution. In the parlance of the 'blockchain' literature, this is referred to as the…
We consider operation of blockchain-based cryptocurrency in case of partitioning. We define the Partitionable Blockchain Consensus Problem. The problem may have an interesting solution if the partitions proceed independently by splitting…
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.…
Most of the Blockchain permissioned systems employ Byzantine fault-tolerance (BFT) consensus protocols to ensure that honest validators agree on the order for appending entries to their ledgers. In this paper, we study the performance and…
Inspired by Bitcoin, many different kinds of cryptocurrencies based on blockchain technology have turned up on the market. Due to the special structure of the blockchain, it has been deemed impossible to directly trade between traditional…
Byzantine Fault Tolerant (BFT) consensus forms the foundation of many modern blockchains striving for both high throughput and low latency. A growing bottleneck is transaction execution and validation on the critical path of consensus,…