Related papers: Decentralized Common Knowledge Oracles
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…
Blockchains and distributed ledger technology offer promising capabilities for supporting collaborative business processes across organizations. Typically, approaches in this field fall into two categories: either executing the entire…
The Bitcoin Network is a sophisticated accounting system that allows its underlying cryptocurrency to be trusted even in the absence of a reliable financial authority. Given its undeniable success, the technology, generally referred to as…
We propose a proof-of-work algorithm that rewards blockchain miners for using computational resources to solve NP-complete puzzles. The resulting blockchain will publicly store and improve solutions to problems with real world applications…
Proponents of blockchains believe that this technology will revolutionize e-commerce. To evaluate this belief, we invite several groups of students to transact on a decentralized peer-to-peer marketplace built on the platform provided by…
Blockchain is a continuously developing technology that has made digital transactions and related computing operations more transparent and secure through globally distributed and decentralized management of states, as well as the strong…
Smart contract-enabled blockchains allow building decentralized applications in which mutually-distrusted parties can work together. Recently, oracle services emerged to provide these applications with real-world data feeds. Unfortunately,…
Cryptocurrencies gain trust in users by publicly disclosing the full creation and transaction history. In return, the transaction history faithfully records the whole spectrum of cryptocurrency user behaviors. This article analyzes and…
Blockchain eliminates the need for trusted third-party intermediaries in business by enabling decentralised architecture design in software applications. However, the vulnerabilities in on-chain autonomous decision-makings and cumbersome…
Oracle networks feeding off-chain information to a blockchain are required to solve a distributed agreement problem since these networks receive information from multiple sources and at different times. We make a key observation that in…
Byzantine Consensus is fundamental for building consistent and fault-tolerant distributed systems. In traditional quorum-based consensus protocols, quorums are defined using globally known assumptions shared among all participants.…
Consensus plays a crucial role in distributed ledger systems, impacting both scalability and decentralization. Many blockchain systems use a weighted lottery based on a scarce resource such as a stake, storage, memory, or computing power to…
We study the role of costly information in non-cooperative two-player games when an extrinsic third party information broker is introduced asymmetrically, allowing one player to obtain information about the other player's action. This…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
Some of the recent blockchain proposals, such as Stellar and Ripple, use quorum-like structures typical for Byzantine consensus while allowing for open membership. This is achieved by constructing quorums in a decentralised way: each…
A prediction market is a useful means of aggregating information about a future event. To function, the market needs a trusted entity who will verify the true outcome in the end. Motivated by the recent introduction of decentralized…
As known, blockchains are traditionally blind to the real world. This implies the reliance on third parties called oracles when extrinsic data is needed for smart contracts. However, reintroducing trust and single point of failure, oracles…
Blockchain systems benefit from lessons in prior art such as fault tolerance, distributed systems, peer-to-peer systems, and game theory. In this paper we argue that blockchain algorithms should tolerate both rational (self-interested)…
The knowledge, embodied in machine learning models for intelligent systems, is commonly associated with time-consuming and costly processes such as large-scale data collection, data labelling, network training, and fine-tuning of models.…
We study the applicability of blockchain technology for distributed event detection under resource constraints. Therefore we provide a test-suite with several promising consensus methods (Proof-of-Work, Proof-of-Stake, Distributed…