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Low throughput has been the biggest obstacle of large-scale blockchain applications. During the past few years, researchers have proposed various schemes to improve the systems' throughput. However, due to the inherent inefficiency and…
The wide success of Bitcoin has led to a huge surge of alternative cryptocurrencies (altcoins). Most altcoins essentially fork Bitcoin's code with minor modifications, such as the number of coins to be minted, the block size, and the block…
Blockchains use peer-to-peer networks for disseminating information among peers, but these networks currently do not have any provable guarantees for desirable properties such as Byzantine fault tolerance, good connectivity and small…
The purpose of this work was to perform a network analysis on the rapidly growing bitcoin transaction network. Using a web-socket API, we collected data on all transactions occurring during a six hour window. Sender and receiver addresses…
Bitcoin rise has put blockchain technology into the mainstream, amplifying its potential and broad utility. While Bitcoin has become incredibly famous, its transaction rate has not match such a corresponding increase. It still takes…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
The emerging blockchain protocols provide a decentralized architecture that is suitable of supporting Internet of Things (IoT) interactions. However, keeping a local copy of the blockchain ledger is infeasible for low-power and…
Since the inception of Bitcoin, cryptocurrencies and the underlying blockchain technology have attracted an increasing interest from both academia and industry. Among various core components, consensus protocol is the defining technology…
The world economy is experiencing the novel adoption of distributed currencies that are free from the control of central banks. Distributed currencies suffer from extreme volatility, and this can lead to catastrophic implications during…
Bitcoin's design promises resilience through decentralization, yet the physical infrastructure supporting the network creates hidden dependencies. We present the first longitudinal study of Bitcoin's resilience to submarine cable failures,…
Cryptocurrencies such as Bitcoin are realized using distributed systems and hence critically rely on the performance and security of the interconnecting network. The requirements on these networks and their usage, however can differ…
Bitcoin, a decentralized cryptocurrency, has attracted a lot of attention from academia, financial service industry and enthusiasts. The trade-off between transaction confirmation throughput and centralization of hash power do not allow…
Extensive research on Nakamoto-style consensus protocols has shown that network delays degrade the security of these protocols. Established results indicate that, perhaps surprisingly, maximal security is achieved when the network is as…
A key performance metric in blockchains is the latency between when a transaction is broadcast and when it is confirmed (the so-called, confirmation latency). While improvements in consensus techniques can lead to lower confirmation…
Despite their development for over a decade, a key problem blockchains are still facing is scalability in terms of throughput, typically limited to a few transactions per second. A fundamental factor limiting this metric is the propagation…
Blockchain has become one of the most attractive technologies for applications, with a large range of deployments such as production, economy, or banking. Under the hood, Blockchain technology is a type of distributed database that supports…
With the advent of blockchain technology, the number of proposals has boomed. The network traffic imposed by these blockchain proposals increases the cost of hosting nodes. Unfortunately, as of today, we are not aware of any comparative…
Compact block, which replaces transactions in the block with their hashes, is an effective means to speed up block propagation in the Bitcoin network. The compact block mechanism in Bitcoin counts on the fact that many nodes may already…
Simple closed-form upper and lower bounds are developed for the security of the Nakamoto consensus as a function of the confirmation depth, the honest and adversarial block mining rates, and an upper bound on the block propagation delay.…
Blockchain (BC) systems are highly distributed peer-to-peer networks that offer an alternative to centralized services and promise robustness to coordinated attacks. However, the resilience and overall security of a BC system rests heavily…