Related papers: ABC: Proof-of-Stake without Consensus
Distributed immutable ledgers, or blockchains, allow the secure digitization of evidential transactions without relying on a trusted third-party. Evidential transactions involve the exchange of any form of physical evidence, such as money,…
Consensus protocols have traditionally been studied in a setting where all participants are known to each other from the start of the protocol execution. In the parlance of the 'blockchain' literature, this is referred to as the…
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…
In this study, we proposed an architecture for Web 3.0, which is based on the hashed interactions among user nodes that can transform bilateral trusts into collective time order, which is the major achievement of blockchain technology,…
It is undeniable that artificial intelligence (AI) and blockchain concepts are spreading at a phenomenal rate. Both technologies have distinct degree of technological complexity and multi-dimensional business implications. However, a common…
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…
We consider the problem of uniformity testing of Lipschitz continuous distributions with bounded support. The alternative hypothesis is a composite set of Lipschitz continuous distributions that are at least $\varepsilon$ away in $\ell_1$…
We consider operation of blockchain-based cryptocurrency in case of partitioning. We define the Partitionable Blockchain Consensus Problem. The problem may have an interesting solution if the partitions proceed independently by splitting…
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…
Transaction throughput, confirmation latency and confirmation reliability are fundamental performance measures of any blockchain system in addition to its security. In a decentralized setting, these measures are limited by two underlying…
Payment channel networks (PCNs) enhance the scalability of blockchains by allowing parties to conduct transactions off-chain, i.e, without broadcasting every transaction to all blockchain participants. To conduct transactions, a sender and…
The Blockchain and the programs running on it, called Smart Contracts, are more and more applied in all fields requiring trust and strong certifications. In this work we compare public and permissioned blockchains for industrial…
We propose LazyLedger, a design for distributed ledgers where the blockchain is optimised for solely ordering and guaranteeing the availability of transaction data. Responsibility for executing and validating transactions is shifted to only…
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…
Blockchains offer a useful abstraction: a trustworthy, decentralized log of totally ordered transactions. Traditional blockchains have problems with scalability and efficiency, preventing their use for many applications. These limitations…
We introduce Unity Interleave, a new consensus algorithm for public blockchain settings. It is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It builds upon…
In the white book of Bitcion, Satoshi Nakamoto described a bitcoin system that can realize point-to-point online payment without a third-party organization. After supporting this magical application scenario and subverting the traditional…
Blockchain is currently one of the fastest-growing technologies in the field of Computer Science. It has found a prevalent use in financial applications like cryptocurrency, for example, Bitcoin and Ethereum. They have been able to bring an…
Current blockchain consensus protocols -- notably, Proof of Work (PoW) and Proof of Stake (PoS) -- deliver global agreement but exhibit structural constraints. PoW anchors security in heavy computation, inflating energy use and imposing…
Fault-tolerant distributed systems move the trust in a single party to a majority of parties participating in the protocol. This makes blockchain based crypto-currencies possible: they allow parties to agree on a total order of transactions…