Related papers: Time-Variant Proof-of-Work Using Error-Correction …

We analyze the economic incentives generated by the proof-of-stake mechanism discussed in the Ethereum Casper upgrade proposal. Compared with proof-of-work, proof-of-stake has a different cost structure for attackers. In Budish (2018),…

We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…

Bitcoin derives a verifiable temporal order from probabilistic block discovery and cumulative proof-of-work rather than from a trusted global clock. We show that block arrivals exhibit stable exponential behavior across difficulty epochs,…

When neural networks (NeuralNets) are implemented in hardware, their weights need to be stored in memory devices. As noise accumulates in the stored weights, the NeuralNet's performance will degrade. This paper studies how to use error…

Proof of work cryptocurrencies began with the promise of a more egalitarian future with a decentralized monetary system with no powerful entities in charge. While this vision is far from realized, these cryptocurrencies are still touted to…

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…

Resource-based consensus is the backbone of permissionless distributed ledger systems. The security of such protocols relies fundamentally on the level of resources actively engaged in the system. The variety of different resources (and…

Bitcoin is the most successful cryptocurrency so far. This is mainly due to its novel consensus algorithm, which is based on proof-of-work combined with a cryptographically-protected data structure and a rewarding scheme that incentivizes…

A proof-of-randomness (PoR) protocol is presented as a fair and low energy-cost consensus mechanism for blockchains. Each network node of a blockchain may use a true random number generator (TRNG) and hash algorism to fulfil the PoR…

Proof-of-Work (PoW) is the most widely adopted incentive model in current blockchain systems, which unfortunately is energy inefficient. Proof-of-Stake (PoS) is then proposed to tackle the energy issue. The rich-get-richer concern of PoS…

Blockchain (BC), the technology behind the Bitcoin crypto-currency system, is considered to be both alluring and critical for ensuring enhanced security and (in some implementations, non-traceable) privacy for diverse applications in many…

Cryptographic Protocols (CP) are distributed algorithms intended for secure communication in an insecure environment. They are used, for example, in electronic payments, electronic voting procedures, systems of confidential data processing,…

This paper introduces BlockReduce, a Proof-of-Work (PoW) based blockchain system which achieves high transaction throughput through a hierarchy of merged mined blockchains, each operating in parallel on a partition the overall application…

Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…

Cryptographic algorithms have been used not only to create robust ciphertexts but also to generate cryptograms that, contrary to the classic goal of cryptography, are meant to be broken. These cryptograms, generally called puzzles, require…

We argue that recent developments in proof-of-work consensus mechanisms can be used in accordance with advancements in formal verification techniques to build a distributed payment protocol that addresses important economic drawbacks from…

This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…

Blockchain (BC), the technology behind the Bitcoin cryptocurrency system, is starting to be adopted for ensuring enhanced security and privacy in the Internet of Things (IoT) ecosystem. Fervent research is currently being focused in both…

Error correction is an indispensable component when Physical Unclonable Functions (PUFs) are used in cryptographic applications. So far, there exist schemes that obtain helper data, which they need within the error correction process. We…

We study an adversary who attacks a Proof-of-Work (POW) blockchain by selfishly constructing an alternative longest chain. We characterize optimal strategies employed by the adversary when a difficulty adjustment rule al\`a Bitcoin applies.…