Related papers: Optical Proof of Work
The blocks in the Bitcoin blockchain record the amount of work W that went into creating them through proofs of work. When honest parties control a majority of the work, consensus is achieved by picking the chain with the highest recorded…
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…
Blockchain (BC), the technology behind the Bitcoin cryptocurrency system, is starting to be adopted for ensuring enhanced security and privacy in the Internet of Things (IoT) ecosystem. Fervent research is currently being focused in both…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
We study the incentives behind double-spend attacks on Nakamoto-style Proof-of-Work cryptocurrencies. In these systems, miners are allowed to choose which transactions to reference with their block, and a common strategy for selecting…
In this paper, we propose two models for scaling the transaction throughput in Proof-of-Work (PoW) based blockchain networks. In the first approach, a mathematical model has derived for optimal transaction throughput for PoW based longest…
Blockchain systems often employ proof-of-work consensus protocols to validate and add transactions into hashchains. These protocols stimulate competition among miners in solving cryptopuzzles (e.g. SHA-256 hash computation in Bitcoin) in…
We present a design called Proof of Gradient Optimization (PoGO) for blockchain consensus, where miners produce verifiable evidence of training large-scale machine-learning models. Building on previous work, we incorporate quantized…
Blockchain technology emerged with the advent of Bitcoin and rapidly developed over the past few decades, becoming widely accepted and known by the public. However, in the past decades, the massive adoption of blockchain technology has yet…
We propose a refinement to the well known, and widely used, proof-of-work scheme of zeroing a cryptographic hash. Our refinement allows multiple autonomous users to cooperate on the proof-of-work for their own transactions in order to bring…
Permissionless blockchains achieve consensus while allowing unknown nodes to join and leave the system at any time. They typically come in two flavors: proof of work (PoW) and proof of stake (PoS), and both are vulnerable to attacks. PoS…
Cryptocurrency mining is an energy-intensive process that presents a prime candidate for hardware acceleration. This work-in-progress presents the first coprocessor design for the ASIC-resistant CryptoNight-Haven Proof of Work (PoW)…
In an emerging computing paradigm, computational capabilities, from processing power to storage capacities, are offered to users over communication networks as a cloud-based service. There, demanding computations are outsourced in order to…
The Nakamoto longest chain protocol is remarkably simple and has been proven to provide security against any adversary with less than 50% of the total hashing power. Proof-of-stake (PoS) protocols are an energy efficient alternative;…
Popular Ethereum wallets (like MetaMask) entrust centralized infrastructure providers (e.g., Infura) to run the consensus client logic on their behalf. As a result, these wallets are light-weight and high-performant, but come with security…
Bitcoin is the world's first decentralized digital currency. Its main technical innovation is the use of a blockchain and hash-based proof of work to synchronize transactions and prevent double-spending the currency. While the qualitative…
In a previous paper, it was discussed whether Bitcoin and/or its blockchain could be considered a complex system and, if so, whether a chaotic one, a positive response raising concerns about the likelihood of Bitcoin/blockchain entering a…
Proof-of-Stake blockchains based on a longest-chain consensus protocol are an attractive energy-friendly alternative to the Proof-of-Work paradigm. However, formal barriers to "getting the incentives right" were recently discovered, driven…
With the increasing adoption of the Proof of Stake (PoS) blockchain, it is timely to study the economy created by such blockchain. In this chapter, we will survey recent progress on the trading and wealth evolution in a cryptocurrency where…
In this publication, a novel architecture for Proof-of-Useful-Work blockchain consensus which aims to replace hash-based block problems with Monte Carlo simulation-based block problems to donate computational power to real-world HEP…