Related papers: StakeDag: Stake-based Consensus For Scalable Trust…
Distributed ledger technology has gained wide popularity and adoption since the emergence of bitcoin in 2008 which is based on proof of work (PoW). It is a distributed, transparent and immutable database of records of all the transactions…
Blockchain has become a popular decentralized paradigm for various applications in the zero-trust environment. The core of the blockchain is the consensus protocol, which establishes consensus among all the participants. PoW (Proof-of-Work)…
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…
This paper examines the economic and security implications of Proof-of-Stake (POS) designs, providing a survey of POS design choices and their underlying economic principles in prominent POS-blockchains. The paper argues that…
This paper centers around a simple yet crucial question for everyday users: How should one choose their delegated validators within proof-of-stake (PoS) protocols, particularly in the context of Ethereum 2.0? This has been a long-overlooked…
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.…
Recent developments in the Byzantine Fault Tolerant consensus protocols have shown the DAG-based protocols to be a very promising technique. While early implementations of DAG-based protocols such as Narwhal/Bullshark trade high throughput…
Distributed ledger technology such as blockchain is considered essential for supporting large numbers of micro-transactions in the Machine Economy, which is envisioned to involve billions of connected heterogeneous and decentralized…
Proof of Stake (PoS) is a burgeoning Sybil resistance mechanism that aims to have a digital asset ("token") serve as security collateral in crypto networks. However, PoS has so far eluded a comprehensive threat model that encompasses both…
A hard-fork reconfiguration of the peer to peer Bitcoin network is described that substitutes tamper-evident logs and proof-of-stake consensus for proof-of-work consensus. The block creation rewards and transaction fees are reallocated to…
Classical and contemporary distributed consensus protocols, may they be for binary agreement, state machine replication, or blockchain consensus, require all protocol participants in a peer-to-peer system to agree on exactly the same…
Distributed Ledger Technologies (DLTs), when managed by a few trusted validators, require most but not all of the machinery available in public DLTs. In this work, we explore one possible way to profit from this state of affairs. We devise…
The idea of security sharing goes back to Nakamoto's introduction of merge mining, a technique that enables Bitcoin miners to reuse their hash power to bootstrap and secure other Proof-of-Work (PoW) blockchains. However, with the rise of…
We introduce Unity Interleave, a new consensus algorithm for public blockchain settings. It is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It builds upon…
Decentralized systems built around blockchain technology promise clients an immutable ledger. They add a transaction to the ledger after it undergoes consensus among the replicas that run a Proof-of-Stake (PoS) or Byzantine Fault-Tolerant…
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.…
Bitcoin is a decentralised digital currency that serves as an alternative to existing transaction systems based on an external central authority for security. Although Bitcoin has many desirable properties, one of its fundamental…
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…
The Narwhal system is a state-of-the-art Byzantine fault-tolerant scalable architecture that involves constructing a directed acyclic graph (DAG) of messages among a set of validators in a Blockchain network. Bullshark is a zero-overhead…
Existing research on federated learning has been focused on the setting where learning is coordinated by a centralized entity. Yet the greatest potential of future collaborative intelligence would be unleashed in a more open and…