Related papers: MaGPoS -- A novel decentralized consensus mechanis…
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.…
The Decentralized-Consistent-Scale (DCS) Triangle defines three dimensions that illustrate the tradeoffs of the blockchain consensus mechanism. In this paper, we propose a new hybrid consensus protocol, called Deterministic Proof of Work…
Blockchain is a novel technology that is rising a lot of interest in the industrial and re- search sectors because its properties of decentralisation, immutability and data integrity. Initially, the underlying consensus mechanism has been…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
Blockchain has been regarded as a promising technology for Internet of Things (IoT), since it provides significant solutions for decentralized network which can address trust and security concerns, high maintenance cost problem, etc. The…
The past decade has witnessed the rapid evolution in blockchain technologies, which has attracted tremendous interests from both the research communities and industries. The blockchain network was originated from the Internet financial…
In the white book of Bitcion, Satoshi Nakamoto described a bitcoin system that can realize point-to-point online payment without a third-party organization. After supporting this magical application scenario and subverting the traditional…
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)…
This research provides a thorough assessment of the XDC Network, a delegated proof of stake (XDPoS) consensus-based blockchain technology, across its technical, security, and business dimensions. The study evaluates the network's…
Geospatial decentralization is essential for blockchains, ensuring regulatory resilience, robustness, and fairness. We empirically analyze five major Proof of Stake (PoS) blockchains: Aptos, Avalanche, Ethereum, Solana, and Sui, revealing…
Consensus protocols used today in blockchains often rely on computational power or financial stakes - scarce resources. We propose a novel protocol using social capital - trust and influence from social interactions - as a non-transferable…
Consensus mechanism is the heart of any blockchain network. Many projects have proposed alternative protocols to improve restricted scalability of Proof of Work originated since Bitcoin. As an improvement of Delegated Proof of Stake, in…
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…
Blockchain is a type of decentralized distributed network which acts as an immutable digital ledger. Despite the absence of any central governing authority to validate the blocks in the ledger, it is considered secure and immutable due to…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…
Blockchain applications that rely on the Proof-of-Work (PoW) have increasingly become energy inefficient with a staggering carbon footprint. In contrast, energy-efficient alternative consensus protocols such as Proof-of-Stake (PoS) may…
Fault-tolerant distributed systems move the trust in a single party to a majority of parties participating in the protocol. This makes blockchain based crypto-currencies possible: they allow parties to agree on a total order of transactions…
Decentralization is a fundamental design element of the Web3 economy. Blockchains and distributed consensus mechanisms are touted as fault-tolerant, attack-resistant, and collusion-proof because they are decentralized. Recent analyses,…
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…
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.…