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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…
Does the proof-of-work protocol serve its intended purpose of supporting decentralized cryptocurrency mining? To address this question, we develop a game-theoretical model where miners first invest in hardware to improve the efficiency of…
Blockchain protocols come with a variety of security guarantees. For example, BFT-inspired protocols such as Algorand tend to be secure in the partially synchronous setting, while longest chain protocols like Bitcoin will normally require…
Hash-based Proof-of-Work (PoW) used in the Bitcoin Blockchain leads to high energy consumption and resource wastage. In this paper, we aim to re-purpose the energy by replacing the hash function with real-life problems having commercial…
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
Designing an efficient difficulty control algorithm is an essential problem in Proof-of-Work (PoW) based blockchains because the network hash rate is randomly changing. This paper proposes a general difficulty control algorithm and provides…
The progress of deep learning (DL), especially the recent development of automatic design of networks, has brought unprecedented performance gains at heavy computational cost. On the other hand, blockchain systems routinely perform a huge…
Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners, but consumes huge amount of energy. Proof-of-Stake chains are energy-efficient, have fast finality and accountability, but…
Blockchain technology has been gaining great interest from a variety of sectors, including healthcare, supply chain and cryptocurrencies. However, Blockchain suffers from its limited ability to scale (i.e. low throughput and high latency).…
The Nakamoto longest chain protocol is remarkably simple and has been proven to provide security against any adversary with less than 50% of the total hashing power. Proof-of-stake (PoS) protocols are an energy efficient alternative;…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
Blockchain applications that rely on the Proof-of-Work (PoW) have increasingly become energy inefficient with a staggering carbon footprint. In contrast, energy-efficient alternative consensus protocols such as Proof-of-Stake (PoS) may…
Cryptocurrency achieves distributed consensus using proof of work (PoW). Prior research in blockchain security identified financially incentivized attacks based on withholding blocks which have the attacker compromise a victim pool and pose…
The sixth generation (6G) systems are generally recognized to be established on ubiquitous Artificial Intelligence (AI) and distributed ledger such as blockchain. However, the AI training demands tremendous computing resource, which is…
As cryptographic tokens and altcoins are increasingly being built to serve as utility tokens, the notion of useful work consensus protocols, as opposed to number-crunching PoW consensus, is becoming ever more important. In such contexts,…
We introduce Unity, a new consensus algorithm for public blockchain settings. Unity is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It encompasses hardware and…
Grover's algorithm confers on quantum computers a quadratic advantage over classical computers for searching in an arbitrary data set, a scenario that describes Bitcoin mining. It has previously been argued that the only side-effect of…
The consensus protocol is the core of a blockchain system which guarantees its secure and stable operation. Proof of Activity (PoA) is a consensus protocol that tries to address some of the issues pertinent to the most widely used…
Bitcoin uses blockchain technology and proof-of-work (PoW) mechanism where nodes spend computing resources and earn rewards in return for spending these resources. This incentive system has caused power to be significantly biased towards a…
The advent of quantum computing poses a significant threat to the foundational cryptographic algorithms that secure modern digital communications. Protocols such as HTTPS, digital certificates, and public key infrastructures (PKIs) heavily…