Related papers: Payment Does Not Imply Consensus (For Distributed …
Cryptocurrencies came to the world in the recent decade and attempted to offer a new order where the financial system is not governed by a centralized entity, and where you have complete control over your account without the need to trust…
Transaction throughput, confirmation latency and confirmation reliability are fundamental performance measures of any blockchain system in addition to its security. In a decentralized setting, these measures are limited by two underlying…
Payment channels allow transactions between participants of the blockchain to be executed securely off-chain, and thus provide a promising solution for the scalability problem of popular blockchains. We study the online network design…
Trust models are essential components of networks of any nature, as they refer to confidence frameworks to evaluate and verify if their participants act reliably and fairly. They are necessary to any social, organizational, or computer…
In permissionless blockchains, transaction issuers include a fee to incentivize miners to include their transactions. To accurately estimate this prioritization fee for a transaction, transaction issuers (or blockchain participants, more…
A survey is given of approaches to the problem of distributed consensus, focusing particularly on methods based on cellular automata and related systems. A variety of new results are given, as well as a history of the field and an extensive…
Blockchains and peer-to-peer systems are part of a trend towards computer systems that are "radically decentralised", by which we mean that they 1) run across many participants, 2) without central control, and 3) are such that qualities 1…
In this review, we evaluate the mechanisms behind the decentralized finance protocols for generating stable, passive income. Currently, such savings interest rates can be as high as 20% annually, payable in traditional currency values such…
In peer-to-peer (P2P) energy trading, a secured infrastructure is required to manage trade and record monetary transactions. A central server/authority can be used for this. But there is a risk of central authority influencing the energy…
The paper presents Tendermint, a new protocol for ordering events in a distributed network under adversarial conditions. More commonly known as Byzantine Fault Tolerant (BFT) consensus or atomic broadcast, the problem has attracted…
In this paper we analyze Tendermint proposed in [7], one of the most popular blockchains based on PBFT Consensus. The current paper dissects Tendermint under various system communication models and Byzantine adversaries. Our methodology…
As the killer application of blockchain technology, blockchain-based payments have attracted extensive attention ranging from hobbyists to corporates to regulatory bodies. Blockchain facilitates fast, secure, and cross-border payments…
Machine Learning systems rely on data for training, input and ongoing feedback and validation. Data in the field can come from varied sources, often anonymous or unknown to the ultimate users of the data. Whenever data is sourced and used,…
We define and examine the shutdown problem for blockchain systems: how to gracefully end the system's operation at the end of its useful life. A particular focus is those blockchain systems that hold archival data of long-lived interest. We…
Payment networks, also known as channels, are a most promising solution to the throughput problem of cryptocurrencies. In this paper we study the design of capital-efficient payment networks, offline as well as online variants. We want to…
Blockchains and distributed ledger technology offer promising capabilities for supporting collaborative business processes across organizations. Typically, approaches in this field fall into two categories: either executing the entire…
The development of blockchain technologies has enabled the trustless execution of so-called smart contracts, i.e. programs that regulate the exchange of assets (e.g., cryptocurrency) between users. In a decentralized blockchain, the state…
We propose a novel distributed monetary system called Hearsay that tolerates both Byzantine and rational behavior without the need for agents to reach consensus on executed transactions. Recent work [5, 10, 15] has shown that distributed…
Most of the Blockchain permissioned systems employ Byzantine fault-tolerance (BFT) consensus protocols to ensure that honest validators agree on the order for appending entries to their ledgers. In this paper, we study the performance and…
Novel blockchain technology provides the infrastructure layer for the creation of decentralized appli-cations. A rapidly growing ecosystem of applications is built around financial services, commonly referred to as decentralized finance.…