Related papers: ABC: Proof-of-Stake without Consensus
Consensus is unnecessary when the truth is available. In this paper, we present a new perspective of rebuilding the blockchain without consensus. When the consensus phase is eliminated from a blockchain, transactions could be canonized…
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 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…
A typical blockchain protocol uses consensus to make sure that mutually mistrusting users agree on the order in which their operations on shared data are executed. However, it is known that asset transfer systems, by far the most popular…
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.…
Establishing efficient and robust covert channels is crucial for secure communication within insecure network environments. With its inherent benefits of decentralization and anonymization, blockchain has gained considerable attention in…
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…
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…
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…
Decrits is a cryptocurrency in development that makes use of a novel consensus algorithm that does not require proof-of-work. This paper describes how the Decrits Consensus Algorithm (DCA) is as trustless as a proof-of-work algorithm while…
The blockchain technology enables mutually untrusting participants to reach consensus on the state of a distributed and decentralized ledger (called a blockchain) in a permissionless setting. The consensus protocol of the blockchain imposes…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
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…
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…
Bitcoin demonstrated the possibility of a financial ledger that operates without the need for a trusted central authority. However, concerns persist regarding its security and considerable energy consumption. We assess the consensus…
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…
Most popular blockchain solutions, like Bitcoin, rely on proof-of-work, guaranteeing that the output of the consensus is agreed upon with high probability. However, this probability depends on the delivery of messages and that the…
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…
Most modern asset transfer systems use consensus to maintain a totally ordered chain of transactions. It was recently shown that consensus is not always necessary for implementing asset transfer. More efficient, asynchronous solutions can…
Blockchain as a promising technology is gaining its popularity ever since proof-of-work based Bitcoin came to the world. Nevertheless, Bitcoin achieves consensus at an expensive cost of energy. Proof-of-stake is one of the solutions for…