Related papers: QuickSync: A Quickly Synchronizing PoS-Based Block…
The blockchain data structure maintained via the longest-chain rule---popularized by Bitcoin---is a powerful algorithmic tool for consensus algorithms. Such algorithms achieve consistency for blocks in the chain as a function of their depth…
Blockchain as a promising technology is gaining its popularity ever since proof-of-work based Bitcoin came to the world. Nevertheless, Bitcoin achieves consensus at an expensive cost of energy. Proof-of-stake is one of the solutions for…
We improve the fundamental security threshold of eventual consensus Proof-of-Stake (PoS) blockchain protocols under the longest-chain rule by showing, for the first time, the positive effect of rounds with concurrent honest leaders. Current…
Proof of Stake (PoS) protocols rely on voting mechanisms to reach consensus on the current state. If an enhanced majority of staking nodes, also called validators, agree on a proposed block, then this block is appended to the blockchain.…
The Nakamoto longest chain protocol is remarkably simple and has been proven to provide security against any adversary with less than 50% of the total hashing power. Proof-of-stake (PoS) protocols are an energy efficient alternative;…
Blockchain protocols implement total-order broadcast in a permissionless setting, where processes can freely join and leave. In such a setting, to safeguard against Sybil attacks, correct processes rely on cryptographic proofs tied to a…
Blockchain systems face persistent challenges of scalability, latency, and energy inefficiency. Existing consensus protocols such as Proof-of-Work (PoW) and Proof-of-Stake (PoS) either consume excessive resources or risk centralization.…
Consensus mechanism is the core technology for blockchain to ensure that transactions are executed in sequence. It also determines the decentralization, security, and efficiency of blockchain. Existing mechanisms all have certain…
Proof of Stake (PoS) is a burgeoning Sybil resistance mechanism that aims to have a digital asset ("token") serve as security collateral in crypto networks. However, PoS has so far eluded a comprehensive threat model that encompasses both…
Blockchain technology has become a trusted method for establishing secure and transparent transactions through a distributed, encrypted network. The operation of blockchain is governed by consensus algorithms, among which Proof of Stake…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…
A blockchain is a distributed ledger for recording transactions, maintained by many nodes without central authority through a distributed cryptographic protocol. All nodes validate the information to be appended to the blockchain, and a…
A blockchain and smart contract enabled security mechanism for IoT applications has been reported recently for urban, financial, and network services. However, due to the power-intensive and a low-throughput consensus mechanism in existing…
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…
This paper presents Balloon, a scalable blockchain consensus protocol which could dynamically adapt its performance to the overall computation power change. Balloon is based on a parallel chain architecture combined with a greedy heaviest…
Transaction throughput, confirmation latency and confirmation reliability are fundamental performance measures of any blockchain system in addition to its security. In a decentralized setting, these measures are limited by two underlying…
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,…
Decentralized systems built around blockchain technology promise clients an immutable ledger. They add a transaction to the ledger after it undergoes consensus among the replicas that run a Proof-of-Stake (PoS) or Byzantine Fault-Tolerant…
Several emerging PoW blockchain protocols rely on a "parallel-chain" architecture for scaling, where instead of a single chain, multiple chains are run in parallel and aggregated. A key requirement of practical PoW blockchains is to adapt…
Proof-of-stake (PoS) is a promising approach for designing efficient blockchains, where block proposers are randomly chosen with probability proportional to their stake. A primary concern with PoS systems is the "rich getting richer"…