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A key constraint that limits the implementation of blockchain in Internet of Things (IoT) is its large storage requirement resulting from the fact that each blockchain node has to store the entire blockchain. This increases the burden on…
Today's world is organized based on merit and value. A single global currency that's decentralized is needed for a global economy. Bitcoin is a partial solution to this need, however it suffers from scalability problems which prevent it…
Cryptocurrency refers to a type of digital asset that uses distributed ledger, or blockchain, technology to enable a secure transaction. Although the technology is widely misunderstood, many central banks are considering launching their own…
Although we have convincing evidence that a black hole bears an entropy proportional to its surface (horizon) area, the ``statistical mechanical'' explanation of this entropy remains unknown. Two basic questions in this connection are: what…
The internet of things (IoT) and other emerging ubiquitous technologies are supporting the rapid spread of smart systems, which has underlined the need for safe, open, and decentralized data storage solutions. With its inherent…
Beyond its obvious macro-economic relevance, fiat money has important micro-economic implications. They matter for addressing No. 8 in Smale's "Mathematical Problems for the Next Century": extend the mathematical model of general…
In parallel computing, a problem is divided into a set of smaller tasks that are distributed across multiple processing elements. Balancing the load of the processing elements is key to achieving good performance and scalability. If the…
Degrees of freedom that carry black hole entropy and hair can be described in the language of Goldstone phenomenon. They represent the pseudo-Goldstone bosons of certain supertranslations, called A-transformations, that are spontaneously…
In a realistic distributed storage environment, storage nodes are usually placed in racks, a metallic support designed to accommodate electronic equipment. It is known that the communication (bandwidth) cost between nodes which are in the…
Recently, the notion of cryptocurrencies has come to the fore of public interest. These assets that exist only in electronic form, with no underlying value, offer the owners some protection from tracking or seizure by government or…
Dispatch of a grid energy storage system for arbitrage is typically formulated into a rolling-horizon optimization problem that includes a battery aging model within the cost function. Quantifying degradation as a depreciation cost in the…
Forty years ago, Wiesner pointed out that quantum mechanics raises the striking possibility of money that cannot be counterfeited according to the laws of physics. We propose the first quantum money scheme that is (1) public-key, meaning…
This paper casts within a unified economic framework some key challenges for the global economic order: de-globalization; the rising impracticability of global cooperation; and the increasingly confrontational nature of Great Power…
In this paper we revisit some major orthodoxies which lie at the heart of the bitcoin crypto currency and its numerous clones. In particular we look at The Longest Chain Rule, the monetary supply policies and the exact mechanisms which…
Erasure coding techniques are getting integrated in networked distributed storage systems as a way to provide fault-tolerance at the cost of less storage overhead than traditional replication. Redundancy is maintained over time through…
To the knowledge of the author, this is the first time it has been shown that interest rates that are extremely high by modern standards (100% and higher) are necessary within a zero-sum monetary system, and not just driven by greed.…
Elastic Cash is a new decentralized mechanism for regulating the money supply. The mechanism operates by modifying the supply so that an interest rate determined by a public market is kept approximately fixed. It can be incorporated into…
Blockchain technology has revolutionized financial markets by enabling decentralized exchanges (DEXs) that operate without intermediaries. Uniswap V2, a leading DEX, facilitates the rapid creation and trading of new tokens, which offer high…
Stability of economic model predictive control can be proven under the assumption that a strict dissipativity condition holds. This assumption has a clear interpretation in terms of the so-called rotated stage cost, which must have its…
Nations around the world are conducting research into the design of central bank digital currency (CBDC), a new, digital form of money that would be issued by central banks alongside cash and central bank reserves. Retail CBDC would be used…