Related papers: A Blockchain Consensus Protocol Based on Dedicated…
The increasing application and deployment of blockchain in various services necessitates the assurance of the effectiveness of PBFT (Practical Byzantine Fault Tolerance) consensus service. However, the performance of PBFT consensus service…
We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and validators. Validators are system maintainers who get rewarded…
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…
Bitcoin blockchain uses hash-based Proof-of-Work (PoW) that prevents unwanted participants from hogging the network resources. Anyone entering the mining game has to prove that they have expended a specific amount of computational power.…
Blockchain consensus mechanisms must balance security, decentralization, and efficiency while ensuring fair participation. Proof of Team Sprint (PoTS) is a cooperative consensus mechanism designed to address the energy inefficiencies and…
Blockchain technologies can enable secure computing environments among mistrusting parties. Permissioned blockchains are particularly enlightened by companies, enterprises, and government agencies due to their efficiency, customizability,…
Throughput limitations of existing blockchain architectures are one of the most significant hurdles for their wide-spread adoption. Attempts to address this challenge include layer-2 solutions, such as Bitcoin's Lightning or Ethereum's…
In the high-stakes race to develop more scalable blockchains, some platforms (Binance, Cosmos, EOS, TRON, etc.) have adopted committee-based consensus (CBC) protocols, whereby the blockchain's record-keeping rights are entrusted to a…
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…
This paper presents a study of the Poof-of-Stake (PoW) Ethereum consensus protocol, following the recent switch from Proof-of-Work (PoS) to Proof-of-Stake within Merge upgrade. The new protocol has resulted in reduced energy consumption and…
Consensus algorithms play a critical role in blockchains and directly impact their performance. During consensus processing, nodes need to validate and order the pending transactions into a new block, which requires verifying the…
Many blockchain-based algorithms, such as Bitcoin, implement a decentralized asset transfer system, often referred to as a cryptocurrency. As stated in the original paper by Nakamoto, at the heart of these systems lies the problem of…
Open-access blockchains based on proof-of-work protocols have gained tremendous popularity for their capabilities of providing decentralized tamper-proof ledgers and platforms for data-driven autonomous organization. Nevertheless, the…
Renewable energy has become a reality in the present and is being preferred by countries to become a considerable part of the central grid. With the increasing adoption of renewables it will soon become crucial to have a platform which…
Regardless of their variations, blockchains require a consensus mechanism to validate transactions, supervise added blocks, maintain network security, synchronize the network state, and distribute incentives. Proof-of-Work (PoW), one of the…
The Internet of Things (IoT) is applied in various fields, and the number of physical devices connected to the IoT is increasingly growing. There are significant challenges to the IoT's growth and development, mainly due to the centralized…
Cryptocurrencies have gained popularity due to their transparency, security, and accessibility compared to traditional financial systems, with Bitcoin, introduced in 2009, leading the market. Bitcoin's security relies on blockchain…
A blockchain replaces central counterparties with time-consuming consensus protocols to record the transfer of ownership. This settlement latency slows cross-exchange trading, exposing arbitrageurs to price risk. Off-chain settlement,…
With the advancement of blockchain systems, many recent research works have proposed distributed ledger technology~(DLT) that employs Byzantine fault-tolerant~(BFT) consensus protocols to decide which block to append next to the ledger.…
This paper addresses the robust consensus problem under switching topologies. Contrary to existing methods, the proposed approach provides decentralized protocols that achieve consensus for networked multi-agent systems in a predefined…