Related papers: Proof-of-Work Cryptocurrencies: Does Mining Techno…
Coding theory plays a crucial role in enabling reliable communication, storage, and computation. Classical approaches assume a worst-case adversarial model and ensure error correction and data recovery only when the number of honest nodes…
The rise of computational power has led to unprecedented performance gains for deep learning models. As more data becomes available and model architectures become more complex, the need for more computational power increases. On the other…
This paper is concerned with the stability of shares in a cryptocurrency where the new coins are issued according to the Proof of Stake protocol. We identify large, medium and small investors under various rewarding schemes, and show that…
The goal of this paper is to rigorously interrogate conventional wisdom about centralization in block-building (due to, e.g., MEV and private order flow) and the outsourcing of block-building by validators to specialists (i.e.,…
The consensus protocol named proof of work (PoW) is widely applied by cryptocurrencies like Bitcoin. Although security of a PoW cryptocurrency is always the top priority, it is threatened by mining attacks like selfish mining. Researchers…
This paper presents a novel staking coopetition design aimed at incentivizing decentralization and continuous growth of economic security within a proof-of-stake system. Staking rewards follow a nonlinear mapping relative to stake size.…
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…
The proof-of-work consensus protocol suffers from two main limitations: waste of energy and offering only probabilistic guarantees about the status of the blockchain. This paper introduces SklCoin, a new Byzantine consensus protocol and its…
Coding theory revolves around the incorporation of redundancy into transmitted symbols, computation tasks, and stored data to guard against adversarial manipulation. However, error correction in coding theory is contingent upon a strict…
The present paper introduces a practical protocol for provably secure, outsourced computation. Our protocol minimizes overhead for verification by requiring solutions to withstand an interactive game between a prover and challenger. For…
We propose the formal study of governed blockchains that are owned and controlled by organizations and that neither create cryptocurrencies nor provide any incentives to solvers of cryptographic puzzles. We view such approaches as…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…
Blockchains revolutionized centralized sectors like banking and finance by promoting decentralization and transparency. In a blockchain, information is transmitted through transactions issued by participants or applications. Miners…
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…
We introduce proof of spending in a block-chain system. In this system the probability for a node to create a legal block is proportional to the total amount of coins it has spent in history.
Blockchains offer a decentralized and secure execution environment strong enough to host cryptocurrencies, but the state-replication model makes on-chain computation expensive. To avoid heavy on-chain workloads, systems like Truebit and…
The Ethereum Improvement Proposal 3675 (EIP-3675) marks a significant shift, transitioning from a Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism. This transition resulted in a staggering 99.95% decrease in energy…
Consensus protocols used today in blockchains often rely on computational power or financial stakes - scarce resources. We propose a novel protocol using social capital - trust and influence from social interactions - as a non-transferable…
This paper proposes a model that enables permissionless and decentralized networks for complex computations. We explore the integration and optimize load balancing in an open, decentralized computational network. Our model leverages…
Bitcoin is the first secure decentralized electronic currency system. However, it is known to be inefficient due to its proof-of-work (PoW) consensus algorithm and has the potential hazard of double spending. In this paper, we aim to reduce…