Related papers: Proof-of-Search: Combining Blockchain Consensus Fo…
We study the applicability of blockchain technology for distributed event detection under resource constraints. Therefore we provide a test-suite with several promising consensus methods (Proof-of-Work, Proof-of-Stake, Distributed…
Blockchains rely on a consensus among participants to achieve decentralization and security. However, reaching consensus in an online, digital world where identities are not tied to physical users is a challenging problem. 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…
We propose a proof-of-work algorithm that rewards blockchain miners for using computational resources to solve NP-complete puzzles. The resulting blockchain will publicly store and improve solutions to problems with real world applications…
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…
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…
In the paper, we present designs for multiple blockchain consensus primitives and a novel blockchain system, all based on the use of trusted execution environments (TEEs), such as Intel SGX-enabled CPUs. First, we show how using TEEs for…
In a blockchain system, consensus protocol as an incentive and security mechanism, is to ensure the participants to build the block honestly and effectively. There are different consensus protocols for blockchain, like Proof of work (PoW),…
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.…
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…
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…
The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof of Work. Here, we point out an…
Since the inception of Bitcoin, cryptocurrencies and the underlying blockchain technology have attracted an increasing interest from both academia and industry. Among various core components, consensus protocol is the defining technology…
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…
Blockchain technology enables secure, transparent data management in decentralized systems, supporting applications from cryptocurrencies like Bitcoin to tokenizing real-world assets like property. Its scalability and sustainability hinge…
As an emerging decentralized secure data management platform, blockchain has gained much popularity recently. To maintain a canonical state of blockchain data record, proof-of-work based consensus protocols provide the nodes, referred to as…
Due to the increasing interest in blockchain technology for fostering secure, auditable, decentralized applications, a set of challenges associated with this technology need to be addressed. In this letter, we focus on the delay associated…
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…
We propose DIPS Difficulty-based Incentives for Problem Solving), a simple modification of the Bitcoin proof-of-work algorithm that rewards blockchain miners for solving optimization problems of scientific interest. The result is a…
A blockchain is a decentralized ledger where all transactions are recorded. For having a reliable blockchain and double-spending prevention, we need a decentralized consensus and agreement on a blockchain. Bitcoin uses proof-of-work (PoW).…