Related papers: Why Stake When You Can Borrow?
Smart contracts, integral to blockchain ecosystems, enable decentralized applications to execute predefined operations without intermediaries. Their ability to enforce trustless interactions has made them a core component of platforms such…
Proof-of-Learning (PoL) proposes that a model owner logs training checkpoints to establish a proof of having expended the computation necessary for training. The authors of PoL forego cryptographic approaches and trade rigorous security…
Bitcoin's Proof of Work (PoW) mechanism, while central to achieving decentralized consensus, has long been criticized for excessive energy use and hardware inefficiencies \cite{devries2018bitcoin, truby2018decarbonizing}. This paper…
Parallel Proof-of-Work (PoW) protocols have been suggested in the literature to improve the safety guarantees, transaction throughput and confirmation latencies of Nakamoto consensus. In this work, we first consider the existing parallel…
A blockchain is a decentralized ledger where all transactions are recorded. For having a reliable blockchain and double-spending prevention, we need a decentralized consensus and agreement on a blockchain. Bitcoin uses proof-of-work (PoW).…
This paper introduces Proof of Team Sprint (PoTS), a novel consensus algorithm designed to address the significant energy inefficiencies inherent in traditional Proof of Work (PoW) systems. PoTS shifts the consensus mechanism from an…
The progress of deep learning (DL), especially the recent development of automatic design of networks, has brought unprecedented performance gains at heavy computational cost. On the other hand, blockchain systems routinely perform a huge…
Many blockchain systems today, including Bitcoin, rely on Proof of Work (PoW). Proof of work is crucial to the liveness and security of cryptocurrencies. The assumption when using PoW is that a lot of trial and error is required on average…
Multi-party data management and blockchain systems require data sharing among participants. To provide resilient and consistent data sharing, transactions engines rely on Byzantine FaultTolerant consensus (BFT), which enables operations…
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…
Fintech business models based on distributed ledgers -- and their smart-contract variants in particular -- offer the prospect of democratizing access to faster, anywhere-accessible, lower cost, reliable-and-secure high-quality financial…
The dominance of a few big companies in the storage market arising various concerns including single point of failure, privacy violation, and oligopoly. To eliminate the dependency on such a centralized storage architecture, several…
Decentralization is a key indicator for the evaluation of public blockchains. In the past, there have been very few studies on measuring and comparing the actual level of decentralization between Proof-of-Work (PoW) blockchains and…
Probabilistic security assessment and real-time dynamic security assessments (DSA) are promising to better handle the risks of system operations. The current methodologies of security assessments may require many time-domain simulations for…
Credit risk stress testing has become an important risk management device which is used both by banks internally and by regulators. Stress testing is complex because it essentially means projecting a bank's full balance sheet conditional on…
Blockchains are modern distributed systems that provide decentralized financial capabilities with trustable guarantees. Smart contracts are programs written in specialized programming languages running on a blockchain and govern how tokens…
The option is a financial derivative, which is regularly employed in reducing the risk of its underlying securities. However, investing in option is still risky. Such risk becomes much severer for speculators who utilize option as a means…
This paper presents OVer, a framework designed to automatically analyze the behavior of decentralized finance (DeFi) protocols when subjected to a "skewed" oracle input. OVer firstly performs symbolic analysis on the given contract and…
The comparative analysis examined eleven Proof-of-Stake (PoS) consensus-based blockchain networks to assess their openness based on five indicative metrics. These metrics include those of decentralization-related aspects, such as the number…
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…