Related papers: On decentralized oracles for data availability
Bitcoin is the first implementation of what has become known as a 'public permissionless' blockchain. Guaranteeing security and protocol conformity through its elegant combination of cryptographic assurances and game theoretic economic…
Decentralisation is one of the promises introduced by blockchain technologies: fair and secure interaction amongst peers with no dominant positions, single points of failure or censorship. Decentralisation, however, appears difficult to be…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
The development of blockchain technology has significantly enhanced the security and transparency of personal information and transaction records. Concurrent with the advancement of blockchain technology and the emergence of the digital…
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,…
With the rapid development of blockchain technology in recent years, all kinds of blockchain-based applications have emerged. Among them, the decentralized finance (DeFi) is one of the most successful applications, which is regarded as the…
The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other domains are its…
We give an explicit definition of decentralization and show you that decentralization is almost impossible for the current stage and Bitcoin is the first truly noncentralized currency in the currency history. We propose a new framework of…
A blockchain is a distributed ledger for recording transactions, maintained by many nodes without central authority through a distributed cryptographic protocol. All nodes validate the information to be appended to the blockchain, and a…
Traditional security models for Nakamoto-style blockchains assume instantaneous synchronization among malicious nodes, which overestimate adversarial coordination capability. We revisit these existing models and propose two more realistic…
This paper investigates the fundamental trade-offs between block safety, confirmation latency, and transaction throughput of proof-of-work (PoW) longest-chain fork-choice protocols, also known as PoW Nakamoto consensus. New upper and lower…
Blockchain-based consensus protocols present the opportunity to develop new protocols, due to their novel requirements of open participation and explicit incentivization of participants. To address the first requirement, it is necessary to…
A hard-fork reconfiguration of the peer to peer Bitcoin network is described that substitutes tamper-evident logs and proof-of-stake consensus for proof-of-work consensus. The block creation rewards and transaction fees are reallocated to…
This paper intends to propose the architecture of a blockchain-agnostic protocol designed for communication of blockchains amongst each other (i.e. cross-chain), and for blockchains with the outside world (i.e. data oracles). The expansive…
Most popular blockchain solutions, like Bitcoin, rely on proof-of-work, guaranteeing that the output of the consensus is agreed upon with high probability. However, this probability depends on the delivery of messages and that the…
Bitcoin is an immutable permissionless blockchain system that has been extensively used as a public bulletin board by many different applications that heavily relies on its immutability. However, Bitcoin's immutability is not without its…
Over the past decade, the Bitcoin P2P network protocol has become a reference model for all modern cryptocurrencies. While nodes in this network are known, the connections among them are kept hidden, as it is commonly believed that this…
Bitcoin is a peer-to-peer payment system proposed by Nakamoto in 2008. Properties of the bitcoin backbone protocol have been investigated in some depth: the blockchain growth property quantifies the number of blocks added to the blockchain…
Unlike Ethereum, which was conceived as a general-purpose smart-contract platform, Bitcoin was designed primarily as a transaction ledger for its native currency, which limits programmability for conditional applications. This constraint is…