Related papers: Proof-of-Search: Combining Blockchain Consensus Fo…
Blockchain has made an impact on today's technology by revolutionizing the financial industry in its utilization on cryptocurrency and the features it provided on decentralization. With the current trend of pursuing the decentralized…
Proof of work (PoW), the most popular consensus mechanism for Blockchain, requires ridiculously large amounts of energy but without any useful outcome beyond determining accounting rights among miners. To tackle the drawback of PoW, we…
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.
Proof-of-work blockchains reward each miner for one completed block by an amount that is, in expectation, proportional to the number of hashes the miner contributed to the mining of the block. Is this proportional allocation rule optimal?…
Blockchain is challenging the status quo of the central trust infrastructure currently prevalent in the Internet towards a design principle that is underscored by decentralization, transparency, and trusted auditability. In ideal terms,…
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.…
In this paper, the authors propose to increase the efficiency of blockchain mining by using a population-based approach. Blockchain relies on solving difficult mathematical problems as proof-of-work within a network before blocks are added…
While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure…
All public blockchains are secured by a proof of opportunity cost among block producers. For example, the security offered by proof-of-work (PoW) systems, like Bitcoin, is due to spent computation; it is work precisely because it cannot be…
With the increasing artificial intelligence application, deep neural network (DNN) has become an emerging task. However, to train a good deep learning model will suffer from enormous computation cost and energy consumption. Recently,…
Blockchain represents a technology for establishing a shared, immutable version of the truth between a network of participants that do not trust one another, and therefore has the potential to disrupt any financial or other industries that…
In this paper we consider a network of processors aiming at cooperatively solving linear programming problems subject to uncertainty. Each node only knows a common cost function and its local uncertain constraint set. We propose a…
With the rise of cryptocurrencies, many new applications built on decentralized blockchains have emerged. Blockchains are full-stack distributed systems where multiple sub-systems interact. While many deployed blockchains and decentralized…
Security analyses for consensus protocols in blockchain research have primarily focused on the synchronous model, where point-to-point communication delays are upper bounded by a known finite constant. These models are unrealistic in noisy…
Throughput limitations of existing blockchain architectures are one of the most significant hurdles for their wide-spread adoption. Attempts to address this challenge include layer-2 solutions, such as Bitcoin's Lightning or Ethereum's…
Open-access blockchains based on proof-of-work protocols have gained tremendous popularity for their capabilities of providing decentralized tamper-proof ledgers and platforms for data-driven autonomous organization. Nevertheless, the…
Bitcoin blockchain uses hash-based Proof-of-Work (PoW) that prevents unwanted participants from hogging the network resources. Anyone entering the mining game has to prove that they have expended a specific amount of computational power.…
The applications of the blockchain technology are still being discov-ered. When a new potential disruptive technology emerges, there is a tendency to try to solve every problem with that technology. However, it is still necessary to…
Mining blocks on a blockchain equipped with a proof of work consensus protocol is well-known to be resource-consuming. A miner bears the operational cost, mainly electricity consumption and IT gear, of mining, and is compensated by a…
Proof-of-Work (PoW) is a popular blockchain consensus algorithm that is used in cryptocurrencies like Bitcoin in which hashing operations are repeated until the resulting hash has certain properties. This approach uses lots of computational…