Related papers: Proof-of-Search: Combining Blockchain Consensus Fo…
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
A blockchain is a database of sequential events that is maintained by a distributed group of nodes. A key consensus problem in blockchains is that of determining the next block (data element) in the sequence. Many blockchains address this…
Does the proof-of-work protocol serve its intended purpose of supporting decentralized cryptocurrency mining? To address this question, we develop a game-theoretical model where miners first invest in hardware to improve the efficiency of…
A problem of developing the consensus protocols in public blockchain systems which spend a combination of energy and space resources is addressed. A technique is proposed that provides a flexibility for selection of the energy and space…
This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…
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…
The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other domains are its…
Bitcoin is the most successful cryptocurrency so far. This is mainly due to its novel consensus algorithm, which is based on proof-of-work combined with a cryptographically-protected data structure and a rewarding scheme that incentivizes…
While Proof-of-Work (PoW) is the most widely used consensus mechanism for blockchain, it received harsh criticism due to its massive waste of energy for meaningless hash calculation. Some studies have introduced Proof-of-Stake to address…
While cryptocurrencies and blockchain applications continue to gain popularity, their energy cost is evidently becoming unsustainable. In most instances, the main cost comes from the required amount of energy for the Proof-of-Work, and this…
In recent years, blockchain technology has received unparalleled attention from academia, industry, and governments all around the world. It is considered a technological breakthrough anticipated to disrupt several application domains. This…
Current blockchain protocols (e.g., Proof-of-Work and Proof-of-Stake) secure the ledger yet cannot measure validator trustworthiness, allowing subtle misconduct that is especially damaging in decentralized-finance (DeFi) settings. We…
This master thesis deals with Blockchain Technology in mobile turn based peer to peer games. First, it investigates the capabilities of Blockchain Technology to be used for gaming applications. In this regard, among others,…
Permissionless blockchains such as Bitcoin have long been criticized for their high computational and storage overhead. Unfortunately, while a number of proposals address the energy consumption of existing Proof-of-Work deployments, little…
A decentralized blockchain is a distributed ledger that is often used as a platform for exchanging goods and services. This ledger is maintained by a network of nodes that obeys a set of rules, called a consensus protocol, which helps to…
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)…
Regardless of their variations, blockchains require a consensus mechanism to validate transactions, supervise added blocks, maintain network security, synchronize the network state, and distribute incentives. Proof-of-Work (PoW), one of the…
The proof-of-work consensus protocol suffers from two main limitations: waste of energy and offering only probabilistic guarantees about the status of the blockchain. This paper introduces SklCoin, a new Byzantine consensus protocol and its…
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…