Related papers: Scalable Consensus Protocols for PoW based Blockch…
Distributed ledger technology such as blockchain is considered essential for supporting large numbers of micro-transactions in the Machine Economy, which is envisioned to involve billions of connected heterogeneous and decentralized…
Due to the increasing interest in blockchain technology for fostering secure, auditable, decentralized applications, a set of challenges associated with this technology need to be addressed. In this letter, we focus on the delay associated…
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.…
DAG-based protocols have been proposed as potential solutions to the latency and throughput limitations of traditional permissionless consensus protocols. However, their adoption has been hindered by security concerns and a lack of a solid…
In a blockchain system, consensus protocol as an incentive and security mechanism, is to ensure the participants to build the block honestly and effectively. There are different consensus protocols for blockchain, like Proof of work (PoW),…
A recent approach to building consensus protocols on top of Directed Acyclic Graphs (DAGs) shows much promise due to its simplicity and stable throughput. However, as each node in the DAG typically includes a linear number of references to…
In blockchain systems, especially cryptographic currencies such as Bitcoin, the double-spending and Byzantine-general-like problem are solved by reaching consensus protocols among all nodes. The state-of-the-art protocols include…
We describe a prototype of a fully capable Ethereum Proof-of-Work (PoW) blockchain network running on multiple Raspberry Pi (RPi) computers. The prototype is easy to set up and is intended to function as a completely standalone system,…
A major challenge in blockchain sharding protocols is that more than 95% transactions are cross-shard. Not only those cross-shard transactions degrade the system throughput but also double the confirmation time, and exhaust an already…
This paper investigates the fundamental trade-offs between block safety, confirmation latency, and transaction throughput of proof-of-work (PoW) longest-chain fork-choice protocols, also known as PoW Nakamoto consensus. New upper and lower…
This paper presents a study of the Poof-of-Stake (PoW) Ethereum consensus protocol, following the recent switch from Proof-of-Work (PoS) to Proof-of-Stake within Merge upgrade. The new protocol has resulted in reduced energy consumption and…
The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof of Work. Here, we point out an…
A problem of developing the consensus protocols in public blockchain systems which spend a combination of energy and space resources is addressed. A technique is proposed that provides a flexibility for selection of the energy and space…
Given the parallels between game theory and consensus, it makes sense to intelligently design blockchain or DAG protocols with an incentive-compatible-first mentality. To that end, we propose a new blockchain or DAG protocol enhancement…
With the increasing adoption of decentralized information systems based on a variety of permissionless blockchain networks, the choice of consensus mechanism is at the core of many controversial discussions. Ethereum's recent transition…
The revolution of Internet of Things (IoT) devices and wearable technology has opened up great possibilities in remote patient monitoring. To streamline the diagnosis and treatment process, healthcare professionals are now adopting the…
Bitcoin is a decentralised digital currency that serves as an alternative to existing transaction systems based on an external central authority for security. Although Bitcoin has many desirable properties, one of its fundamental…
Cryptocurrencies have gained popularity due to their transparency, security, and accessibility compared to traditional financial systems, with Bitcoin, introduced in 2009, leading the market. Bitcoin's security relies on blockchain…
As distributed ledgers, blockchains run consensus protocols which trade capacity for consistency, especially in non-ideal networks with incomplete connectivity and erroneous links. Existing studies on the tradeoff between capacity and…
This paper is a Systematization of Knowledge (SoK) on Directed Acyclic Graph (DAG)-based consensus protocols, analyzing their performance and trade-offs within the framework of consistency, availability, and partition tolerance inspired by…