Related papers: ABC: Proof-of-Stake without Consensus
Consensus in decentralized systems that asynchronously receive events and which are subject to Byzantine faults is a common problem with many real-life applications. Advances in decentralized systems, such as distributed ledger (i.e.,…
There is an ongoing competition among blockchain technologies and the existence of one ultimate blockchain is impossible for many reasons. On the other hand, such variety can create difficulties in adoption, especially for the governments…
Blockchains implement decentralized monetary systems and applications. Recent advancements enable what we call tethering a blockchain to a primary blockchain, securing the tethered chain by nodes that post primary-chain tokens as…
Blockchain applications that rely on the Proof-of-Work (PoW) have increasingly become energy inefficient with a staggering carbon footprint. In contrast, energy-efficient alternative consensus protocols such as Proof-of-Stake (PoS) may…
Consensus protocols play a pivotal role to balance security and efficiency in blockchain systems. In this paper, we propose an evaluation framework for blockchain consensus protocols termed as AlphaBlock. In this framework, we compare the…
Blockchain (BC), the technology behind the Bitcoin crypto-currency system, is considered to be both alluring and critical for ensuring enhanced security and (in some implementations, non-traceable) privacy for diverse applications in many…
In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…
Cryptocurrencies have gained popularity due to their transparency, security, and accessibility compared to traditional financial systems, with Bitcoin, introduced in 2009, leading the market. Bitcoin's security relies on blockchain…
Permissionless blockchains (e.g., Bitcoin, Ethereum, etc) have shown a wide success in implementing global scale peer-to-peer cryptocurrency systems. In such blockchains, new currency units are generated through the mining process and are…
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…
The Decentralized-Consistent-Scale (DCS) Triangle defines three dimensions that illustrate the tradeoffs of the blockchain consensus mechanism. In this paper, we propose a new hybrid consensus protocol, called Deterministic Proof of Work…
Approximate Bayesian computation (ABC) or likelihood-free inference algorithms are used to find approximations to posterior distributions without making explicit use of the likelihood function, depending instead on simulation of sample data…
Cryptocurrencies are poised to revolutionize the modern economy by democratizing commerce. These currencies operate on top of blockchain-based distributed ledgers. Existing permissionless blockchain-based protocols offer unparalleled…
In this paper we address the issue of identity and access control within shared permissioned blockchains. We propose the ChainAchor system that provides anonymous but verifiable identities for entities on the blockchain. ChainAchor also…
The spectacular success of Bitcoin and Blockchain Technology in recent years has provided enough evidence that a widespread adoption of a common cryptocurrency system is not merely a distant vision, but a scenario that might come true in…
We introduce Bitcoin-IPC, a software stack and protocol that scales Bitcoin towards helping it become the universal Medium of Exchange (MoE) by enabling the permissionless creation of fully programmable Proof-of-Stake (PoS) Layer-2 chains,…
Recently, we saw the emergence of consensus-based database systems that promise resilience against failures, strong data provenance, and federated data management. Typically, these fully-replicated systems are operated on top of a…
Proof-of-stake blockchains require consensus protocols that support Dynamic Availability and Reconfiguration (so-called DAR setting), where the former means that the consensus protocol should remain live even if a large number of nodes…
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…
Business process collaboration between independent parties can be challenging, especially if the participants do not have complete trust in each other. Tracking actions and enforcing the activity authorizations of participants via…