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Distributed ledger systems, such as blockchains, rely on consensus protocols that commit ordered messages for processing. In practice, message ordering within these systems is often reward-driven. This raises concerns about fairness,…
Decentralization for data storage is a challenging problem for blockchain-based solutions as the blocksize plays the key role for scalability. In addition, specific requirements of multimedia data calls for various changes in the blockchain…
We model the ultimate price paid by users of a decentralized ledger as resulting from a two-stage game where Miners (/Proposers/etc.) first purchase blockspace via a Tullock contest, and then price that space to users. When analyzing our…
Machine Learning systems rely on data for training, input and ongoing feedback and validation. Data in the field can come from varied sources, often anonymous or unknown to the ultimate users of the data. Whenever data is sourced and used,…
Data sharing is very important for accelerating scientific research, business innovations, and for informing individuals. Yet, concerns over data privacy, cost, and lack of secure data-sharing solutions have prevented data owners from…
Bitcoin demonstrated the possibility of a financial ledger that operates without the need for a trusted central authority. However, concerns persist regarding its security and considerable energy consumption. We assess the consensus…
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…
Blockchain and blockchain-inspired decentralized applications are on the rise thanks to their unique characteristics such as their decentralized nature, anonymity, and tamper-proof nature; however, blockchain transactions tend to experience…
The blockchain technology enables mutually untrusting participants to reach consensus on the state of a distributed and decentralized ledger (called a blockchain) in a permissionless setting. The consensus protocol of the blockchain imposes…
Formalization of mathematics is the process of digitizing mathematical knowledge, which allows for formal proof verification as well as efficient semantic searches. Given the large and ever-increasing gap between the set of formalized and…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
Regardless of their variations, blockchains require a consensus mechanism to validate transactions, supervise added blocks, maintain network security, synchronize the network state, and distribute incentives. Proof-of-Work (PoW), one of the…
Decentralized finance (DeFi) has become one of the most successful applications of blockchain and smart contracts. The DeFi ecosystem enables a wide range of crypto-financial activities, while the underlying smart contracts often contain…
Decrits is a cryptocurrency in development that makes use of a novel consensus algorithm that does not require proof-of-work. This paper describes how the Decrits Consensus Algorithm (DCA) is as trustless as a proof-of-work algorithm while…
The blockchain initially gained traction in 2008 as the technology underlying bitcoin, but now has been employed in a diverse range of applications and created a global market worth over $150B as of 2017. What distinguishes blockchains from…
Skill verification is a central problem in workforce hiring. Companies and academia often face the difficulty of ascertaining the skills of an applicant since the certifications of the skills claimed by a candidate are generally not…
The emerging blockchain technology has enabled various decentralised applications in a trustless environment without relying on a trusted intermediary. It is expected as a promising solution to tackle sophisticated challenges on personal…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
Construction project governance relies on agreements between the actors along the construction industry value chain. The mutual obligations arising from these contracts rely on timely monetary transactions. Despite the advantages of…
Open-access blockchains based on proof-of-work protocols have gained tremendous popularity for their capabilities of providing decentralized tamper-proof ledgers and platforms for data-driven autonomous organization. Nevertheless, the…