Related papers: ABC: Proof-of-Stake without Consensus
Permissionless blockchain technology offers numerous potential benefits for decentralised applications, such as security, transparency, and openness. BFT-based consensus mechanisms are widely adopted in the permissioned blockchain to meet…
The state-of-the-art approach to manage blockchains is to process blocks of transactions in a shared-nothing environment. Although blockchains have the potential to provide various services for high-performance computing (HPC) systems, HPC…
Censorship resistance with short-term inclusion guarantees is an important feature of decentralized systems, missing from many state-of-the-art and even deployed consensus protocols. In leader-based protocols the leader arbitrarily selects…
Blockchain consensus protocols enable participants to agree on consistent views of the blockchain that may be ahead or behind relative to each other but do not fork into different chains. A number of recently popular…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…
In this paper, we propose a blockchain-based computing verification protocol, called EntrapNet, for distributed shared computing networks, an emerging underlying network for many internet of things (IoT) applications. EntrapNet borrows the…
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…
Blockchain technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…
This paper presents Wrapless -- a lending protocol that enables the collateralization of bitcoins without requiring a trusted wrapping mechanism. The protocol facilitates a "loan channel" on the Bitcoin blockchain, allowing bitcoins to be…
In this paper we present an open source, fully asynchronous, leaderless algorithm for reaching consensus in the presence of Byzantine faults in an asynchronous network. We prove the algorithm's correctness provided that less than a third of…
Despite broad use of BFT consensus in blockchains, censorship resistance is weak: leaders can exclude transactions, a growing concern for trading and DeFi. We address this by introducing a new abstraction and protocol stack. First, we…
Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners. Proof-of-Stake chains are energy-efficient, have fast finality but face several security issues: susceptibility to…
Blockchain based cryptocurrencies are usually unmanaged, distributed, consensus-based systems in which no single entity has control. Managed cryptocurrencies can be implemented using private blockchains but are fundamentally different as…
A family of leaderless, decentralized consensus protocols, called Snow consensus was introduced in a recent whitepaper by Yin et al. These protocols address limitations of existing consensus methods, such as those using proof-of-work or…
Asynchronous Byzantine Fault Tolerant (BFT) consensus protocols have garnered significant attention with the rise of blockchain technology. A typical asynchronous protocol is designed by executing sequential instances of the Asynchronous…
With the rapid growth of hyperconnected devices and decentralized data architectures, safeguarding Internet of Things (IoT) transactions is becoming increasingly challenging. Blockchain presents a promising solution, yet its effectiveness…
Blockchain technology has revolutionized the digital landscape, driving innovations across industries through its decentralized and transparent infrastructure. These networks are primarily categorized as public or private, based on user…
Blockchain systems run consensus rules as code to agree on the state of the distributed ledger and secure the network. Changing these rules can be risky and challenging. In addition, it can often be controversial and take much effort to…
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…
The state-of-the-art HotStuff operates an efficient pipeline in which a stable leader drives decisions with linear communication and two round-trips of message. However, the unifying proposing-voting pattern is not sufficient to improve the…