Related papers: Impact of Temporary Fork on the Evolution of Minin…
Forks in the Bitcoin network result from the natural competition in the blockchain's Proof-of-Work consensus protocol. Their frequency is a critical indicator for the efficiency of a distributed ledger as they can contribute to resource…
In a PoW-based blockchain network, mining pools (the solo miner could be regarded as a mining pool containing one miner) compete to successfully mine blocks to pursue rewards. Generally, the rewards include the fixed block subsidies and…
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…
In blockchain networks adopting the proof-of-work schemes, the monetary incentive is introduced by the Nakamoto consensus protocol to guide the behaviors of the full nodes (i.e., block miners) in the process of maintaining the consensus…
Blockchains have witnessed widespread adoption in the past decade in various fields. The growing demand makes their scalability and sustainability challenges more evident than ever. As a result, more and more blockchains have begun to adopt…
As the cornerstone of blockchain, block synchronization plays a vital role in maintaining the security. Without full blockchain synchronization, unexpected forks will emerge and thus providing a breeding ground for various malicious…
The energy sustainability of blockchains, whose consensus protocol rests on the Proof-of-Work, nourishes a heated debate. The underlying issue lies in a highly energy-consuming process, defined as mining, required to validate crypto-asset…
Mining fairness in blockchain refers to equality between the computational resources invested in mining and the block rewards received. There exists a dilemma wherein increasing the transaction processing capacity of a blockchain…
The world economy is experiencing the novel adoption of distributed currencies that are free from the control of central banks. Distributed currencies suffer from extreme volatility, and this can lead to catastrophic implications during…
Natural forking in blockchain refers to a phenomenon that there are a set of blocks at one block height at the same time, implying that various nodes have different perspectives of the main chain. Natural forking might give rise to multiple…
Forking breaches the security and performance of blockchain as it is symptomatic of distributed consensus, spurring wide interest in analyzing and resolving it. The state-of-the-art works can be categorized into two kinds: experiment-based…
To maintain blockchain-based services with ensuring its security, it is an important issue how to decide a mining reward so that the number of miners participating in the mining increases. We propose a dynamical model of decision-making for…
Blockchains have sparked global interest in recent years, gaining importance as they increasingly influence technology and finance. This thesis investigates the robustness of blockchain protocols, specifically focusing on Ethereum…
Cryptocurrencies and blockchain networks have attracted tremendous attention from their volatile price movements and the promise of decentralization. However, most projects run on business narratives with no way to test and verify their…
It is interesting but difficult and challenging to study Ethereum with multiple mining pools. One of the main difficulties comes from not only how to represent such a general tree with multiple block branches (or sub-chains) related to the…
We study a game-theoretic model of blockchain mining economies and show that griefing, a practice according to which participants harm other participants at some lesser cost to themselves, is a prevalent threat at its Nash equilibria. The…
We study the strategic implications that arise from adding one extra option to the miners participating in the bitcoin protocol. We propose that when adding a block, miners also have the ability to pay forward an amount to be collected by…
The goal of this paper is to establish the general framework of consensus equilibria for Mining-Pool Games in Blockchain Ecosystems, and with the explanation for the stability of in terms of the existence of consensus equilibria related to…
We propose a mean field game model to study the question of how centralization of reward and computational power occur in Bitcoin-like cryptocurrencies. Miners compete against each other for mining rewards by increasing their computational…
Blockchains rely on economic incentives to ensure secure and decentralised operation, making incentive compatibility a core design concern. However, protocols are rarely deployed in isolation. Applications interact with the underlying…