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Decentralisation is one of the promises introduced by blockchain technologies: fair and secure interaction amongst peers with no dominant positions, single points of failure or censorship. Decentralisation, however, appears difficult to be…
We present an algorithm for synchronous deterministic Byzantine consensus, tolerant to links failures and links asynchrony. It cares for a class of networks with specific needs, where both safety and liveness are essential, and timely…
Digital payment schemes show an ever increasing importance. Out of the countless different schemes available this article focuses on the popular Bitcoin system. The authors provide a description of Bitcoin's unique technological basis and…
Blockchain is a decentralized transaction and data management solution, the technological leap behind the success of Bitcoin and other cryptocurrencies. As the variety of existing blockchains and distributed ledgers continues to increase,…
The growth of the Bitcoin network during the first decade of its operation to a global scale system is a singular event in the deployment of Information Technology systems. Can this approach serve as a wider paradigm for Information…
Bitcoin introduced delegation of control over a monetary system from a select few to all who participate in that system. This delegation is known as the decentralization of controlling power and is a powerful security mechanism for the…
In recent years, blockchain technology has received unparalleled attention from academia, industry, and governments all around the world. It is considered a technological breakthrough anticipated to disrupt several application domains. This…
Existing permissioned blockchains often rely on coordination-based consensus protocols to ensure the safe execution of applications in a Byzantine environment. Furthermore, these protocols serialize the transactions by ordering them into a…
A decentralized blockchain is a distributed ledger that is often used as a platform for exchanging goods and services. This ledger is maintained by a network of nodes that obeys a set of rules, called a consensus protocol, which helps to…
Blockchain technology offers a decentralized and secure method for storing and authenticating data, rendering it well-suited for various applications such as digital currencies, supply chain management, and voting systems. However, the…
Some of the recent blockchain proposals, such as Stellar and Ripple, use quorum-like structures typical for Byzantine consensus while allowing for open membership. This is achieved by constructing quorums in a decentralised way: each…
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…
In recent years, blockchain technology has been recognized as a transformative innovation in the tech world, and it has quickly become the core infrastructure of digital currencies such as Bitcoin and an important tool in various…
The blockchain paradigm provides a mechanism for content dissemination and distributed consensus on Peer-to-Peer (P2P) networks. While this paradigm has been widely adopted in industry, it has not been carefully analyzed in terms of its…
Trust is the basis of any distributed, fault-tolerant, or secure system. A trust assumption specifies the failures that a system, such as a blockchain network, can tolerate and determines the conditions under which it operates correctly. In…
Existing blockchain systems scale poorly because of their distributed consensus protocols. Current attempts at improving blockchain scalability are limited to cryptocurrency. Scaling blockchain systems under general workloads (i.e.,…
Distributed Ledger Technologies (DLTs), when managed by a few trusted validators, require most but not all of the machinery available in public DLTs. In this work, we explore one possible way to profit from this state of affairs. We devise…
Decentralization is a fundamental design element of the Web3 economy. Blockchains and distributed consensus mechanisms are touted as fault-tolerant, attack-resistant, and collusion-proof because they are decentralized. Recent analyses,…
We develop a model of coordination and allocation of decentralized multi-sided markets, in which our theoretical analysis is promisingly optimizing the decentralized transaction packaging process at high-throughput blockchains or Web 3.0…
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…