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In blockchain applications, transaction confirmation is often treated as usability friction to be minimized or removed. However, confirmation also marks the boundary between deliberation and irreversible commitment, suggesting it may play a…
In this paper, the authors propose to increase the efficiency of blockchain mining by using a population-based approach. Blockchain relies on solving difficult mathematical problems as proof-of-work within a network before blocks are added…
Blockchains offer strong security gurarantees, but cannot protect users against the ordering of transactions. Players such as miners, bots and validators can reorder various transactions and reap significant profits, called the Maximal…
We give an explicit definition of decentralization and show you that decentralization is almost impossible for the current stage and Bitcoin is the first truly noncentralized currency in the currency history. We propose a new framework of…
In the light of the recent fame of Blockchain technologies, numerous proposals and projects aiming at better practical viability have emerged. However, formally assessing their particularities and benefits has proven to be a difficult task.…
Blockchain technology has become one of the most popular trends in IT over the last few years. Its increasing popularity and the discovery of ever more use cases raises the question of how to improve scalability. While researchers are…
Transaction fee markets are essential components of blockchain economies, as they resolve the inherent scarcity in the number of transactions that can be added to each block. In early blockchain protocols, this scarcity was resolved through…
At the heart of the Bitcoin is a blockchain protocol, a protocol for achieving consensus on a public ledger that records bitcoin transactions. To the extent that a blockchain protocol is used for applications such as contract signing and…
Mining pools, the main components of the Bitcoin network, dominate the computing resources and play essential roles in network security and performance aspects. Although many existing measurements of the Bitcoin network are available,…
Transactive energy plays a key role in the operation and energy management of future power systems. However, the conventional operational mechanism, which follows a centralized design, is often less secure, vulnerable to malicious…
This paper presents Conflux, a fast, scalable and decentralized blockchain system that optimistically process concurrent blocks without discarding any as forks. The Conflux consensus protocol represents relationships between blocks as a…
This paper highlights the necessity to use modern blockchain technology in traditional banking sector to reduce frauds and enable high-security transactions on a permanent blockchain ledger. Reviewing different channels through which the…
In this paper we analyze from the game theory point of view Byzantine Fault Tolerant blockchains when processes exhibit rational or Byzantine behavior. Our work is the first to model the Byzantine-consensus based blockchains as a committee…
Decentralized Finance (DeFi), propelled by Blockchain technology, has revolutionized traditional financial systems, improving transparency, reducing costs, and fostering financial inclusion. However, transaction activities in these systems…
Blockchain validators can reduce block processing time by exploiting multi-core CPUs, but deterministic execution must preserve a given total order while respecting transaction conflicts and per-block runtime limits. This paper…
Committee-based blockchains are among the most popular alternatives of proof-of-work based blockchains, such as Bitcoin. They provide strong consistency (no fork) under classical assumptions, and avoid using energy-consuming mechanisms to…
Blockchain technology has been proposed as a new infrastructure technology for a wide variety of novel applications. Blockchains provide an immutable record of transactions, making them useful when business actors do not trust each other.…
The last decade has experienced a vast interest in Blockchain-based cryptocurrencies with a specific focus on the applications of this technology. However, slow confirmation times of transactions and unforeseeable high fees hamper their…
As blockchains begin processing significant economic activity, the ability to include and order transactions inevitably becomes highly valuable, a concept known as Maximal Extractable Value (MEV). This makes effective mechanisms for…
We consider a single large language model (LLM) server that serves a heterogeneous stream of queries belonging to $N$ distinct task types. Queries arrive according to a Poisson process, and each type occurs with a known prior probability.…