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This paper introduces a family of leaderless Byzantine fault tolerance protocols, built around a metastable mechanism via network subsampling. These protocols provide a strong probabilistic safety guarantee in the presence of Byzantine…
Abrupt changes in the miner hash rate applied to a proof-of-work (PoW) blockchain can adversely affect user experience and security. Because different PoW blockchains often share hashing algorithms, miners face a complex choice in deciding…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…
Payment channel networks (PCNs) offer a promising solution to address the limited transaction throughput of deployed blockchains. However, several attacks have recently been proposed that stress the vulnerability of PCNs to timelock and…
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-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We…
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…
Proof-of-Work (PoW) consensus is traditionally analyzed under the assumption that all miners incur similar costs per unit of computational effort. In reality, costs vary due to factors such as regional electricity cost differences and…
Payment channel networks like Bitcoin's Lightning network are an auspicious approach for realizing high transaction throughput and almost-instant confirmations in blockchain networks. However, the ability to successfully make payments in…
Zero-knowledge proof (ZKP) mixers are one of the most widely-used blockchain privacy solutions, operating on top of smart contract-enabled blockchains. We find that ZKP mixers are tightly intertwined with the growing number of Decentralized…
Transaction fees represent a major incentive in many blockchain systems as a way to incentivize processing transactions. Unfortunately, they also introduce an enormous amount of incentive asymmetry compared to alternatives like fixed block…
The lack of proper interoperability poses a significant challenge in leveraging use cases within the blockchain industry. Unlike typical solutions that rely on third parties such as oracles and witnesses, the interpool design operates as a…
Proof of Work (PoW) blockchains burn a lot of energy. Proof-of-work algorithms are expensive by design and often only serve to compute blockchains. In some sense, carbon-based and non-carbon based regional electric power is fungible. So the…
We describe and analyze perishing mining, a novel block-withholding mining strategy that lures profit-driven miners away from doing useful work on the public chain by releasing block headers from a privately maintained chain. We then…
Light clients are essential for scalable blockchain systems because they verify data availability without downloading full blocks. In data availability sampling based systems, sampled cells are retrieved from a peer-to-peer network and…
The rise of blockchain-based cryptocurrencies has led to an explosion of services using distributed ledgers as their underlying infrastructure. However, due to inherently single-service oriented blockchain protocols, such services can bloat…
With the development of precise positioning technology, a growing number of location-based services (LBSs) facilitate people's life. Most LBSs require proof of location (PoL) to prove that the user satisfies the service requirement, which…
In today's programmable blockchains, smart contracts are limited to being deterministic and non-probabilistic. This lack of randomness is a consequential limitation, given that a wide variety of real-world financial contracts, such 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…
Since the concern of privacy leakage extremely discourages user participation in sharing data, federated learning has gradually become a promising technique for both academia and industry for achieving collaborative learning without leaking…