Related papers: Towards a Multi-Chain Future of Proof-of-Space
Bitcoin's Proof of Work (PoW) mechanism, while central to achieving decentralized consensus, has long been criticized for excessive energy use and hardware inefficiencies \cite{devries2018bitcoin, truby2018decarbonizing}. This paper…
This paper introduces Proof of Team Sprint (PoTS), a novel consensus algorithm designed to address the significant energy inefficiencies inherent in traditional Proof of Work (PoW) systems. PoTS shifts the consensus mechanism from an…
We analyze the economic incentives generated by the proof-of-stake mechanism discussed in the Ethereum Casper upgrade proposal. Compared with proof-of-work, proof-of-stake has a different cost structure for attackers. In Budish (2018),…
We introduce proof of spending in a block-chain system. In this system the probability for a node to create a legal block is proportional to the total amount of coins it has spent in history.
We propose a novel sidechain construction tailored to be compatible with the Horizen blockchain and designed for conducting secure and decentralized cross-chain transfers without requiring the mainchain nodes to track sidechains to verify…
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…
We propose a refinement to the well known, and widely used, proof-of-work scheme of zeroing a cryptographic hash. Our refinement allows multiple autonomous users to cooperate on the proof-of-work for their own transactions in order to bring…
Proof-of-stake (PoS) is a promising approach for designing efficient blockchains, where block proposers are randomly chosen with probability proportional to their stake. A primary concern with PoS systems is the "rich getting richer"…
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…
A blockchain and smart contract enabled security mechanism for IoT applications has been reported recently for urban, financial, and network services. However, due to the power-intensive and a low-throughput consensus mechanism in existing…
Ensuring the correctness of distributed system implementations remains a challenging and largely unaddressed problem. In this paper we present a protocol that can be used to certify the safety of consensus implementations. Our proposed…
Federated learning may be subject to both global aggregation attacks and distributed poisoning attacks. Blockchain technology along with incentive and penalty mechanisms have been suggested to counter these. In this paper, we explore…
Blockchain has widely been adopted to design accountable federated learning frameworks; however, the existing frameworks do not scale for distributed model training over multiple independent blockchain networks. For storing the pre-trained…
Fourteen years after the invention of Bitcoin, there has been a proliferation of many permissionless blockchains. Each such chain provides a public ledger that can be written to and read from by anyone. In this multi-chain world, a natural…
Proof of work (PoW), as the representative consensus protocol for blockchain, consumes enormous amounts of computation and energy to determine bookkeeping rights among miners but does not achieve any practical purposes. To address the…
This paper extends the blockchain sustainability framework of Budish (2018) to consider proof of stake (in addition to proof of work) consensus mechanisms and permissioned (where the number of nodes are fixed) networks. It is demonstrated…
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…
In this letter we propose Meta-key, a data-sharing mechanism that enables users share their encrypted data under a blockchain-based decentralized storage architecture. All the data-encryption keys are encrypted by the owner's public key and…
Recent advances in the cryptographic field of "Zero-Knowledge Proofs" have sparked a new wave of research, giving birth to many exciting theoretical approaches in the last few years. Such research has often overlapped with the need for…
Cloud computing helps reduce costs, increase business agility and deploy solutions with a high return on investment for many types of applications, including data warehouses and on-line analytical processing. However, storing and…