Related papers: Optical Proof of Work
The blockchain system has emerged as one of the focal points of research in recent years, particularly in applications and services such as cryptocurrencies and smart contracts. In this context, the hash value serves as a crucial element in…
One of the most important features of blockchain protocols is decentralization, as their main contribution is that they formulate a distributed ledger that will be maintained and extended without the need of a trusted party. Bitcoin has…
The educational system manages extensive documentation and paperwork, which can lead to human errors and sometimes abuse or fraud, such as the falsification of diplomas, certificates or other credentials. In fact, in the last years,…
This paper studies a fundamental problem regarding the security of blockchain PoW consensus on how the existence of multiple misbehaving miners influences the profitability of selfish mining. Each selfish miner (or attacker interchangeably)…
Proof-of-stake (PoS) is a promising approach for designing efficient blockchains, where block proposers are randomly chosen with probability proportional to their stake. A primary concern with PoS systems is the "rich getting richer"…
Blockchain technology has been gaining great interest from a variety of sectors, including healthcare, supply chain and cryptocurrencies. However, Blockchain suffers from its limited ability to scale (i.e. low throughput and high latency).…
In this paper, we review the undercutting attacks in the transaction-fee-based regime of proof-of-work (PoW) blockchains with the longest chain fork-choice rule. Next, we focus on the problem of fluctuations in mining revenue and the mining…
The progress of deep learning (DL), especially the recent development of automatic design of networks, has brought unprecedented performance gains at heavy computational cost. On the other hand, blockchain systems routinely perform a huge…
Several emerging PoW blockchain protocols rely on a "parallel-chain" architecture for scaling, where instead of a single chain, multiple chains are run in parallel and aggregated. A key requirement of practical PoW blockchains is to adapt…
The key cryptographic protocols used to secure the internet and financial transactions of today are all susceptible to attack by the development of a sufficiently large quantum computer. One particular area at risk are cryptocurrencies, a…
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…
The consensus protocol is the core of a blockchain system which guarantees its secure and stable operation. Proof of Activity (PoA) is a consensus protocol that tries to address some of the issues pertinent to the most widely used…
Distributed ledger technology has gained wide popularity and adoption since the emergence of bitcoin in 2008 which is based on proof of work (PoW). It is a distributed, transparent and immutable database of records of all the transactions…
The core of many cryptocurrencies is the decentralised validation network operating on proof-of-work technology. In these systems, validation is done by so-called miners who can digitally sign blocks once they solve a computationally-hard…
In current blockchain systems, full nodes that perform all of the available functionalities need to store the entire blockchain. In addition to the blockchain, full nodes also store a blockchain-summary, called the \emph{state}, which is…
For more than a decade, Bitcoin has gained as much adoption as it has received criticism. Fundamentally, Bitcoin is under fire for the high carbon footprint that results from the energy-intensive proof-of-work (PoW) consensus algorithm.…
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…
Mining attacks enable an adversary to procure a disproportionately large portion of mining rewards by deviating from honest mining practices within the PoW-based blockchain system. In this paper, we demonstrate that the security…
Mining blocks in a blockchain using the \textit{Proof-of-Work} consensus protocol involves significant risk, as network participants face continuous operational costs while earning infrequent capital gains upon successfully mining a block.…
An open distributed system can be secured by requiring participants to present proof of work and rewarding them for participation. The Bitcoin digital currency introduced this mechanism, which is adopted by almost all contemporary digital…