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Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
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…
Stablecoins have emerged as a rapidly growing digital payment instrument, raising the question of whether blockchain-based settlement can function as a substitute for incumbent card networks in retail payments. This Systematization of…
In this work we study the cost of local and global proofs on distributed verification. In this setting the nodes of a distributed system are provided with a nondeterministic proof for the correctness of the state of the system, and the…
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…
Blockchain has been regarded as a promising technology for Internet of Things (IoT), since it provides significant solutions for decentralized network which can address trust and security concerns, high maintenance cost problem, etc. The…
In peer-to-peer (P2P) energy trading, a secured infrastructure is required to manage trade and record monetary transactions. A central server/authority can be used for this. But there is a risk of central authority influencing the energy…
Dynamic pricing is commonly used to regulate congestion in shared service systems. This paper is motivated by the fact that in the presence of users with varying price sensitivity (responsiveness), conventional monotonic pricing can lead to…
In the light of the recent fame of Blockchain technologies, numerous proposals and projects aiming at better practical viability have emerged. However, formally assessing their particularities and benefits has proven to be a difficult task.…
This paper is concerned with the problem of controlling a system of constrained dynamic subsystems in a way that balances the performance degradation of decentralized control with the practical cost of centralized control. We propose a…
Blockchain is a decentralised, immutable ledger technology that has been widely adopted in many sectors for various applications such as cryptocurrencies, smart contracts and supply chain management. Distributed consensus is a fundamental…
Bitcoin uses blockchain technology and proof-of-work (PoW) mechanism where nodes spend computing resources and earn rewards in return for spending these resources. This incentive system has caused power to be significantly biased towards a…
Modern distributed systems rely on consensus protocols to build a fault-tolerant-core upon which they can build applications. Consensus protocols are correct under a specific failure model, where up to $f$ machines can fail. We argue that…
One decade ago, Bitcoin was introduced, becoming the first cryptocurrency and establishing the concept of "blockchain" as a distributed ledger. As of today, there are many different implementations of cryptocurrencies working over a…
Decentralization has been touted as the principal security advantage which propelled blockchain systems at the forefront of developments in the financial technology space. Its exact semantics nevertheless remain highly contested and…
Conventional railway operations employ specialized software and hardware to ensure safe and secure train operations. Track occupation and signaling are governed by central control offices, while trains (and their drivers) receive…
Cooperation is fundamental for human prosperity. Blockchain, as a trust machine, is a cooperative institution in cyberspace that supports cooperation through distributed trust with consensus protocols. While studies in computer science…
Blockchain technology has revolutionized the digital landscape, driving innovations across industries through its decentralized and transparent infrastructure. These networks are primarily categorized as public or private, based on user…
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.…
We study transportation networks controlled by dynamical feedback tolls. We consider a multiscale transportation network model whereby the dynamics of the traffic flows are intertwined with those of the drivers' route choices. The latter…