Related papers: Shades of Finality and Layer 2 Scaling
There exist many forms of Blockchain finality conditions, from deterministic to probabilistic terminations. To favor availability against consistency in the face of partitions, most blockchains only offer probabilistic eventual finality:…
We study financial transaction confirmation finality in Bitcoin as a function of transaction amount and user risk tolerance. A transaction is recorded in a block on a blockchain. However, a transaction may be revoked due to a fork in the…
Modern blockchain systems are a fresh look at the paradigm of distributed computing, applied under assumptions of large-scale public networks. They can be used to store and share information without a trusted central party. There has been…
Public blockchains should be able to scale with respect to the number of nodes and to the transactions workload. The blockchain scalability trilemma has been informally conjectured. This is related to scalability, security and…
Blockchain technology has emerged as a transformative paradigm for decentralized and secure data management across diverse application domains, including healthcare, supply chain management, and the Internet of Things. Its core features,…
Blockchain is a type of decentralized distributed database. Unlike traditional relational database management systems, it does not require management or maintenance by a third party. All data management and update processes are open and…
Blockchain technologies are gaining massive momentum in the last few years. Blockchains are distributed ledgers that enable parties who do not fully trust each other to maintain a set of global states. The parties agree on the existence,…
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…
Bitcoin, as well as many of its successors, require the whole transaction record to be reliably acquired by all nodes to prevent double-spending. Recently, many blockchains have been proposed to achieve scale-out throughput by letting nodes…
Existing blockchain systems scale poorly because of their distributed consensus protocols. Current attempts at improving blockchain scalability are limited to cryptocurrency. Scaling blockchain systems under general workloads (i.e.,…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
We present the notion of multilevel slashing, where proof-of-stake blockchain validators can obtain gradual levels of assurance that a certain block is bound to be finalized in a global consensus procedure, unless an increasing and…
Recent advances in the blockchain research have been made in two important directions. One is refined resilience analysis utilizing game theory to study the consequences of selfish behaviors of users (miners), and the other is the extension…
Blockchain technology is affected by massive limitations in scalability with consequent repercussions on performance. This discussion aims at analyzing the state of the art of current available Layer II solutions to overcome these…
Blockchain is an incrementally updated ledger maintained by distributed nodes rather than centralized organizations. The current blockchain technology faces scalability issues, which include two aspects: low transaction throughput and high…
Throughput limitations of existing blockchain architectures are well documented and are one of the most significant hurdles for their wide-spread adoption. In our previous proof-of-concept work, we have shown that separating computation…
Blockchains are tamper evident and tamper resistant digital ledgers implemented in a distributed fashion (i.e., without a central repository) and usually without a central authority (i.e., a bank, company, or government). At their basic…
In the given technology-driven era, smart cities are the next frontier of technology, aiming at improving the quality of people's lives. Many research works focus on future smart cities with a holistic approach towards smart city…
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…
Precision, validity, reliability, timeliness, availability, and granularity are the desired characteristics for data and information systems. However due to the desired trait of data mutability, information systems have inherently lacked…