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Several emerging PoW blockchain protocols rely on a "parallel-chain" architecture for scaling, where instead of a single chain, multiple chains are run in parallel and aggregated. A key requirement of practical PoW blockchains is to adapt…
The blockchain has found numerous applications in many areas with the expectation to significantly enhance their security. The Internet of things (IoT) constitutes a prominent application domain of blockchain, with a number of architectures…
Cryptocurrency is a well-developed blockchain technology application that is currently a heated topic throughout the world. The public availability of transaction histories offers an opportunity to analyze and compare different…
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…
The cryptocurrency market presents both significant investment opportunities and higher risks relative to traditional financial assets. This study examines the tail behavior of daily returns for two leading cryptocurrencies, Bitcoin and…
Blockchain technologies underpin an expanding ecosystem of decentralized applications, financial systems, and infrastructure. However, the fundamental networking layer that sustains these systems, the peer-to-peer layer, of all but the top…
Proof of Stake (PoS) protocols rely on voting mechanisms to reach consensus on the current state. If an enhanced majority of staking nodes, also called validators, agree on a proposed block, then this block is appended to the blockchain.…
Blockchain systems are designed, built and operated in the presence of failures. There are two dominant failure models, namely crash fault and Byzantine fault. Byzantine fault tolerance (BFT) protocols offer stronger security guarantees,…
This paper examines the dynamics of the cryptocurrency market and proposes a novel blockchain-based protocol for real estate transactions. Our analysis includes a detailed review of price trends, volatility, and correlations within the…
We propose a bitcoin generalization as a solution to the problem of scalability. The block is redefined as a sequence of sub-blocks of increasing sizes that coexist as different levels of compromise between decentralization and transactions…
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…
In blockchain, bribery is an inevitable problem since users with various goals can bribe miners by transferring cryptoassets. To alleviate the negative effects of such collusion, Ethereum blockchain implemented new transaction fee mechanism…
Cryptocurrencies are distributed systems that allow exchanges of native (and non-) tokens among participants. The complete historical bookkeeping and its wide availability opens up an unprecedented possibility, i.e. that of understanding…
Byzantine Fault Tolerant (BFT) consensus exhibits higher throughput in comparison to Proof of Work (PoW) in blockchains. But BFT-based protocols suffer from scalability problems with respect to the number of replicas in the network. The…
The surging interest in blockchain technology has revitalized the search for effective Byzantine consensus schemes. In particular, the blockchain community has been looking for ways to effectively integrate traditional Byzantine…
In this paper, we identify a new form of attack, called the Balance attack, against proof-of-work blockchain systems. The novelty of this attack consists of delaying network communications between multiple subgroups of nodes with balanced…
The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other domains are its…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
Extensive research on Nakamoto-style consensus protocols has shown that network delays degrade the security of these protocols. Established results indicate that, perhaps surprisingly, maximal security is achieved when the network is as…
Blockchain has received much attention in recent years. This immense popularity has raised a number of concerns, scalability of blockchain systems being a common one. In this paper, we seek to understand how Ethereum, a well-established…