Related papers: Capacity Analysis of Public Blockchain
Blockchain technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…
Blockchain technologies originate from cryptocurrencies. Thus, most blockchain technologies assume an environment with a fast and stable network. However, in some blockchain-based systems, e.g., supply chain management (SCM) systems, some…
A blockchain is a distributed ledger for recording transactions, maintained by many nodes without central authority through a distributed cryptographic protocol. All nodes validate the information to be appended to the blockchain, and a…
Blockchain, the technology behind the popular Bitcoin, is considered a "security by design" system as it is meant to create security among a group of distrustful parties yet without a central trusted authority. The security of blockchain…
The rise of blockchain technologies has given a boost to social good projects, which are trying to exploit various characteristic features of blockchains: the quick and inexpensive transfer of cryptocurrency, the transparency of…
In the light of the recent fame of Blockchain technologies, numerous proposals and projects aiming at better practical viability have emerged. However, formally assessing their particularities and benefits has proven to be a difficult task.…
We present a novel framework for analyzing blockchain consensus mechanisms by modeling blockchain growth as a Partially Observable Stochastic Game (POSG) which we reduce to a set of Partially Observable Markov Decision Processes (POMDPs)…
Bitcoin derives a verifiable temporal order from probabilistic block discovery and cumulative proof-of-work rather than from a trusted global clock. We show that block arrivals exhibit stable exponential behavior across difficulty epochs,…
Blockchain technologies are taking the world by storm. Public blockchains, such as Bitcoin and Ethereum, enable secure peer-to-peer applications like crypto-currency or smart contracts. Their security and performance are well studied. This…
This paper investigates how pricing schemes can achieve efficient allocations in blockchain systems featuring multiple transaction queues under a global capacity constraint. I model a capacity-constrained blockchain where users submit…
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…
We present and validate a novel mathematical model of the blockchain mining process and use it to conduct an economic evaluation of the double-spend attack, which is fundamental to all blockchain systems. Our analysis focuses on the value…
Although blockchain, the supporting technology of various cryptocurrencies, has offered a potentially effective framework for numerous decentralized trust management systems, its performance is still sub-optimal in real-world networks. With…
Blockchain represents a technology for establishing a shared, immutable version of the truth between a network of participants that do not trust one another, and therefore has the potential to disrupt any financial or other industries that…
Decentralized crypto-currencies based on the blockchain architecture under-utilize available network bandwidth, making them unable to scale to thousands of transactions per second. We define the Blockclique architecture, that addresses this…
The blockchain data structure maintained via the longest-chain rule---popularized by Bitcoin---is a powerful algorithmic tool for consensus algorithms. Such algorithms achieve consistency for blocks in the chain as a function of their depth…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…
We make several contributions that quantify the real-time hash rate and therefore the consensus of a blockchain. We show that by using only the hash value of blocks, we can estimate and measure the hash rate of all miners or individual…
Increasing popularity of trading digital assets can lead to significant delays in Blockchain networks when processing transactions. When transaction fees become miners' primary revenue, an imbalance in reward may lead to miners adopting…
This study proposes a novel solution that provides secure interoperability for blockchains, which improves the overall scalability of the whole blockchain network. In our solution, a cross-chain task will build a one-time cross-blockchain…