Related papers: LightSync: Ultra Light Client for PoW Blockchains
Blockchains such as Bitcoin and Ethereum execute payment transactions securely, but their performance is limited by the need for global consensus. Payment networks overcome this limitation through off-chain transactions. Instead of writing…
Bitcoin mining is a wasteful and resource-intensive process. To add a block of transactions to the blockchain, miners spend a considerable amount of energy. The Bitcoin protocol, named 'proof of work' (PoW), resembles a lottery and the…
Most concurrent blockchain systems rely heavily on the Proof-of-Work (PoW) or Proof-of-Stake (PoS) mechanisms for decentralized consensus and security assurance. However, the substantial energy expenditure stemming from computationally…
Blockchains use peer-to-peer networks for disseminating information among peers, but these networks currently do not have any provable guarantees for desirable properties such as Byzantine fault tolerance, good connectivity and small…
There appears to be an insatiable desire for spawning new bespoke blockchains to harness the functionality provided by blockchain technologies, resulting in a constant stream of blockchain start-up companies entering the market with their…
Many blockchain systems today, including Bitcoin, rely on Proof of Work (PoW). Proof of work is crucial to the liveness and security of cryptocurrencies. The assumption when using PoW is that a lot of trial and error is required on average…
Proof-of-Work (PoW) is a popular blockchain consensus algorithm that is used in cryptocurrencies like Bitcoin in which hashing operations are repeated until the resulting hash has certain properties. This approach uses lots of computational…
Lightning Network (LN) is designed to amend the scalability and privacy issues of Bitcoin. It's a payment channel network where Bitcoin transactions are issued off chain, onion routed through a private payment path with the aim to settle…
The emergence of more and more blockchain solutions with innovative approaches to optimising performance, scalability, privacy and governance complicates performance analysis. Reasons for the difficulty of benchmarking blockchains include,…
Contemporary blockchain such as Bitcoin and Ethereum execute transactions serially by miners and validators and determine the Proof-of-Work (PoW). Such serial execution is unable to exploit modern multi-core resources efficiently, hence…
Blockchain has become particularly popular due to its promise to support business-critical services in very different domains (e.g., retail, supply chains, healthcare). Blockchain systems rely on complex middleware, like Ethereum or…
Blockchain applications that rely on the Proof-of-Work (PoW) have increasingly become energy inefficient with a staggering carbon footprint. In contrast, energy-efficient alternative consensus protocols such as Proof-of-Stake (PoS) may…
Bitcoin has emerged as a revolutionary payment system with its decentralized ledger concept; however it has significant problems such as high transaction fees and low throughput. Lightning Network (LN), which was introduced much later,…
Recent years have witnessed an increasing interest in the blockchain technology, and many blockchain-based applications have been developed to take advantage of its decentralization, transparency, fault tolerance, and strong security. In…
Known as a distributed ledger technology (DLT), blockchain has attracted much attention due to its properties such as decentralization, security, immutability and transparency, and its potential of servicing as an infrastructure for various…
Recently, blockchain has gained momentum as a novel technology that gives rise to a plethora of new decentralized applications (e.g., Internet of Things (IoT)). However, its integration with the IoT is still facing several problems (e.g.,…
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 systems based on a reusable resource, such as proof-of-stake (PoS), provide weaker security guarantees than those based on proof-of-work. Specifically, they are vulnerable to long-range attacks, where an adversary can corrupt…
Proof of Work (PoW) is widely regarded as the most secure permissionless blockchain consensus protocol. However, its reliance on computationally intensive yet externally useless puzzles results in excessive electric energy wasting. To…
The ever-increasing size of open-source Large Language Models (LLMs) renders local deployment impractical for individual users. Decentralized computing has emerged as a cost-effective solution, allowing individuals and small companies to…