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To address the large amount of energy wasted by blockchains, we propose a decentralized consensus protocol for blockchains in which the computation can be used to search for good approximate solutions to any optimization problem. Our…
In blockchain systems, especially cryptographic currencies such as Bitcoin, the double-spending and Byzantine-general-like problem are solved by reaching consensus protocols among all nodes. The state-of-the-art protocols include…
Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners, but consumes huge amount of energy. Proof-of-Stake chains are energy-efficient, have fast finality and accountability, but…
In a blockchain system, consensus protocol as an incentive and security mechanism, is to ensure the participants to build the block honestly and effectively. There are different consensus protocols for blockchain, like Proof of work (PoW),…
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…
Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners. Proof-of-Stake chains are energy-efficient, have fast finality but face several security issues: susceptibility to…
Although proof of work (PoW) consensus dominates the current blockchain-based systems mostly, it has always been criticized for the uneconomic brute-force calculation. As alternatives, energy-conservation and energy-recycling mechanisms…
The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof of Work. Here, we point out an…
Blockchains rely on a consensus among participants to achieve decentralization and security. However, reaching consensus in an online, digital world where identities are not tied to physical users is a challenging problem. Proof-of-work…
With the increasing adoption of decentralized information systems based on a variety of permissionless blockchain networks, the choice of consensus mechanism is at the core of many controversial discussions. Ethereum's recent transition…
Bitcoin mining is a wasteful and resource-intensive process. To add a block of transactions to the blockchain, miners spend a considerable amount of energy. The Bitcoin protocol, named 'proof of work' (PoW), resembles a lottery and the…
Proof-of-Work (PoW) blockchains have emerged as a robust and effective consensus mechanism in open environments, leading to widespread deployment with numerous cryptocurrency platforms and substantial investments. However, the commonly…
This paper opts to mitigate the energy-inefficiency of the Blockchain Proof-of-Work (PoW) consensus algorithm by rationally repurposing the power spent during the mining process. The original PoW mining scheme is designed to consider one…
The rise of computational power has led to unprecedented performance gains for deep learning models. As more data becomes available and model architectures become more complex, the need for more computational power increases. On the other…
Large proof of work (PoW) networks allow anyone to earn rewards by running computation-intensive hash puzzles for profit, yet they typically consume electricity comparable to that of medium-sized countries. Repurposing computing resources…
Blockchain plays a crucial role in ensuring the security and integrity of decentralized systems, with the proof-of-work (PoW) mechanism being fundamental for achieving distributed consensus. As PoW blockchains see broader adoption, an…
The protocol for cryptocurrencies can be divided into three parts, namely consensus, wallet, and networking overlay. The aim of the consensus part is to bring trustless rational peer-to-peer nodes to an agreement to the current status of…
Today's world is organized based on merit and value. A single global currency that's decentralized is needed for a global economy. Bitcoin is a partial solution to this need, however it suffers from scalability problems which prevent it…
In today's connected world, resource constrained devices are deployed for sensing and decision making applications, ranging from smart cities to environmental monitoring. Those recourse constrained devices are connected to create real-time…
Current blockchain protocols (e.g., Proof-of-Work and Proof-of-Stake) secure the ledger yet cannot measure validator trustworthiness, allowing subtle misconduct that is especially damaging in decentralized-finance (DeFi) settings. We…