Related papers: Proof-of-Stake Longest Chain Protocols: Security v…
This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…
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…
We present a novel method for a multi-party, zero-trust validator infrastructure deployment arrangement via smart contracts to secure Proof-of-Stake (PoS) blockchains. The proposed arrangement architecture employs a combination of…
Blockchain technology is a breakthrough in changing the ways of business and organization operations, in which the consensus problem is challenging with practical constraints, such as computational power and consensus standard. In this…
Nakamoto double spend strategy, described in Bitcoin foundational article, leads to total ruin with positive probability and does not make sense from the profitability point of view. The simplest strategy that can be profitable incorporates…
This paper introduces the Proof of Sampling (PoSP) protocol, a Nash Equilibrium-based verification mechanism, and its application to decentralized machine learning inference through spML. Our protocol has a pure strategy Nash Equilibrium,…
Due to its minimal energy requirement the PoS consensus protocol has become an attractive alternative to PoW in modern cryptocurrencies. In this protocol the chance of being selected as a block proposer in each round is proportional to the…
Resource-based consensus is the backbone of permissionless distributed ledger systems. The security of such protocols relies fundamentally on the level of resources actively engaged in the system. The variety of different resources (and…
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…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…
A proof-of-randomness (PoR) protocol is presented as a fair and low energy-cost consensus mechanism for blockchains. Each network node of a blockchain may use a true random number generator (TRNG) and hash algorism to fulfil the PoR…
We present PoWerStore, the first efficient robust storage protocol that achieves optimal latency without using digital signatures. PoWerStore's robustness comprises tolerating asynchrony, maximum number of Byzantine storage servers, any…
Large proof of work (PoW) networks allow anyone to earn rewards by running computation-intensive hash puzzles for profit, yet they typically consume electricity comparable to that of medium-sized countries. Repurposing computing resources…
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…
Decentralization is a foundational principle of permissionless blockchains, with consensus mechanisms serving a critical role in its realization. This study quantifies the decentralization of consensus mechanisms in proof-of-stake (PoS)…
In this paper we present the initial design of Minerva consensus protocol for Truechain and other technical details. Currently, it is widely believed in the blockchain community that a public chain cannot simultaneously achieve high…
We present a novel framework for analyzing blockchain consensus mechanisms by modeling blockchain growth as a Partially Observable Stochastic Game (POSG) which we reduce to a set of Partially Observable Markov Decision Processes (POMDPs)…
Following the publication of Bitcoin's arguably most famous attack, selfish mining, various works have introduced mechanisms to enhance blockchain systems' game theoretic resilience. Some reward mechanisms, like FruitChains, have been shown…
Blockchain protocols come with a variety of security guarantees. For example, BFT-inspired protocols such as Algorand tend to be secure in the partially synchronous setting, while longest chain protocols like Bitcoin will normally require…