Related papers: Fairness and Efficiency in DAG-based Cryptocurrenc…
This paper investigates the issue of fairness in Distributed Ledger Technology (DLT), specifically focusing on the shortcomings observed in current blockchain systems due to Miner Extractable Value (MEV) phenomena and systemic…
Order fairness in distributed ledgers refers to properties that relate the order in which transactions are sent or received to the order in which they are eventually finalized, i.e., totally ordered. The study of such properties is…
The rise of cryptocurrencies like Bitcoin and Ethereum has driven interest in blockchain database technology, with smart contracts enabling the growth of decentralized finance (DeFi). However, research has shown that adversaries exploit…
This paper introduces a novel architecture for a distributed ledger, commonly referred to as a "blockchain", which is organized in the form of directed acyclic graph (DAG) with UTXO transactions as vertices, rather than as a chain of…
Given the parallels between game theory and consensus, it makes sense to intelligently design blockchain or DAG protocols with an incentive-compatible-first mentality. To that end, we propose a new blockchain or DAG protocol enhancement…
Since the inception of blockchain and Bitcoin (Nakamoto (2008)), a decentralized-distributed ledger system and its associated cryptocurrency, respectively, the world has witnessed a slew of newer adaptations and applications. Although the…
Several blockchain consensus protocols proposed to use of Directed Acyclic Graphs (DAGs) to solve the limited processing throughput of traditional single-chain Proof-of-Work (PoW) blockchains. Many such protocols utilize a random…
Blockchain-based Distributed Ledgers (DLs) promise to transform the existing financial system by making it truly democratic. In the past decade, blockchain technology has seen many novel applications ranging from the banking industry to…
A blockchain, such as Bitcoin, is an append-only, secure, transparent, distributed ledger. A fair blockchain is expected to have healthy metrics; high honest mining power, low processing latency, i.e., low wait times for transactions and…
Blockchain is maintained as a global log between a network of nodes and uses cryptographic distributed protocols to synchronize the updates. As adopted by Bitcoin and Ethereum these update operations to the ledger are serialized, and…
Blockchain plays an important role in cryptocurrency markets and technology services. However, limitations on high latency and low scalability retard their adoptions and applications in classic designs. Reconstructed blockchain systems have…
The robust construction of the ledger data structure is an essential ingredient for the safe operation of a distributed ledger. While in traditional linear blockchain systems, permission to append to the structure is leader-based, in…
The blockchain brought interesting properties for many practical applications. However, some properties, such as the transaction processing throughput remained limited, especially in Proof-of-Work blockchains. Therefore, several promising…
In the past decade, blockchain has emerged as a promising solution for building secure distributed ledgers and has attracted significant attention. However, current blockchain systems suffer from limited throughput, poor scalability, and…
We propose a novel consensus protocol based on a hybrid approach, that combines a directed acyclic graph (DAG) and a classical chain of blocks. This architecture allows us to enforce collective block construction, minimising the…
Bitcoin is a representative decentralized currency system. For the security of Bitcoin, fairness in the distribution of mining rewards plays a crucial role in preventing the concentration of computational power in a few miners. Here,…
Motivated by the great success and adoption of Bitcoin, a number of cryptocurrencies such as Litecoin, Dogecoin, and Ethereum are becoming increasingly popular. Although existing blockchain-based cryptocurrency schemes can ensure reasonable…
Permisionless decentralized ledgers ("blockchains") such as the one underlying the cryptocurrency Bitcoin allow anonymous participants to maintain the ledger, while avoiding control or "censorship" by any single entity. In contrast,…
Mining fairness in blockchain refers to equality between the computational resources invested in mining and the block rewards received. There exists a dilemma wherein increasing the transaction processing capacity of a blockchain…
Direct Acyclic Graph (DAG)-based ledger and the corresponding consensus algorithm has been identified as a promising technology for Internet of Things (IoT). Compared with Proof-of-Work (PoW) and Proof-of-Stake (PoS) that have been widely…