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Blockchain technology transformed the digital sphere by providing a transparent, secure, and decentralized platform for data security across a range of industries, including cryptocurrencies and supply chain management. Blockchain's…
The majority of online marketplaces offer promotion programs to sellers to acquire additional customers for their products. These programs typically allow sellers to allocate advertising budgets to promote their products, with higher…
A family of leaderless, decentralized consensus protocols, called Snow consensus was introduced in a recent whitepaper by Yin et al. These protocols address limitations of existing consensus methods, such as those using proof-of-work or…
One of the most important features of blockchain protocols is decentralization, as their main contribution is that they formulate a distributed ledger that will be maintained and extended without the need of a trusted party. Bitcoin has…
A recent trend in multi-party computation is to achieve cryptographic fairness via monetary penalties, i.e. each honest player either obtains the output or receives a compensation in the form of a cryptocurrency. We pioneer another type of…
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…
In this paper, we present a pricing mechanism that aligns incentives of agents who exchange resources on a decentralized ledger with the goal of maximizing transaction throughput. Subdividing a blockchain ledger into shards promises to…
Bitcoin's enormous success has inspired the development of alternative blockchains, such as consortium chains. Several cross-chain protocols have been proposed as ways of connecting these universes of individual blockchains in a distributed…
Many aspects of blockchain-based decentralized finance can be understood as an extension of classical distributed computing. In this paper, we trace the evolution of two interrelated notions: failure and fault-tolerance. In classical…
Public blockchains should be able to scale with respect to the number of nodes and to the transactions workload. The blockchain scalability trilemma has been informally conjectured. This is related to scalability, security and…
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…
This paper revisits the ubiquitous problem of achieving state machine replication in blockchains based on repeated consensus, like Tendermint. To achieve state machine replication in blockchains built on top of consensus, one needs to…
The long-term success of cryptocurrencies largely depends on the incentive compatibility provided to the validators. Bribery attacks, facilitated trustlessly via smart contracts, threaten this foundation. This work introduces, implements,…
Smart contracts are stateful programs deployed on blockchains; they secure over a trillion dollars in transaction value per year. High-stakes smart contracts often rely on timely alerts about external events, but prior work has not analyzed…
Consensus plays a crucial role in distributed ledger systems, impacting both scalability and decentralization. Many blockchain systems use a weighted lottery based on a scarce resource such as a stake, storage, memory, or computing power to…
Before a fair exchange takes place, there is typically an advertisement phase with the goal of increasing the appeal of possessing a digital asset while keeping it sufficiently hidden. Advertisement phases are implicit in mainstream…
The blockchain constitutes a technology-based, rather than social or regulation based, means to lower uncertainty about one another in order to exchange value. However, its use may very well also lead to increased complexity resulting from…
This paper develops a model to evaluate the viability of blockchain markets as the sole venue for price formation. Blockchains clear at discrete intervals called block time, and transactions are executed sequentially according to priority…
In permissionless blockchains, transaction issuers include a fee to incentivize miners to include their transactions. To accurately estimate this prioritization fee for a transaction, transaction issuers (or blockchain participants, more…
Blockchain, as a distributed ledger technology, becomes more and more popular in both industry and academia. Each peer in blockchain system maintains a copy of ledger and makes sure of data consistency through consensus protocol. Blockchain…