Related papers: Measuring Miner Decentralization in Proof-of-Work …
All public blockchains are secured by a proof of opportunity cost among block producers. For example, the security offered by proof-of-work (PoW) systems, like Bitcoin, is due to spent computation; it is work precisely because it cannot be…
In blockchain systems, especially cryptographic currencies such as Bitcoin, the double-spending and Byzantine-general-like problem are solved by reaching consensus protocols among all nodes. The state-of-the-art protocols include…
The security of blockchain systems is fundamentally based on the decentralized consensus in which the majority of parties behave honestly, and the content verification process is essential to maintaining the robustness of blockchain…
The Bitcoin cryptocurrency records its transactions in a public log called the blockchain. Its security rests critically on the distributed protocol that maintains the blockchain, run by participants called miners. Conventional wisdom…
Catalyzed by the popularity of blockchain technology, there has recently been a renewed interest in the design, implementation and evaluation of decentralized systems. Most of these systems are intended to be deployed at scale and in…
A soft control of the network activity through varying reward in a proof-of-work (PoW) cryptocurrency is reported. Rewards are the necessity to incent the contributors activities (i.e., mining) in order to maintain the PoW network. Contrary…
The convergence of blockchain and artificial intelligence (AI) has led to the emergence of AI-based tokens, which are cryptographic assets designed to power decentralized AI platforms and services. This paper provides a comprehensive review…
The security of most existing cryptocurrencies is based on a concept called Proof-of-Work, in which users must solve a computationally hard cryptopuzzle to authorize transactions (`one unit of computation, one vote'). This leads to enormous…
Proof-of-Stake blockchains based on a longest-chain consensus protocol are an attractive energy-friendly alternative to the Proof-of-Work paradigm. However, formal barriers to "getting the incentives right" were recently discovered, driven…
One of the most important features of blockchain protocols is decentralization, as their main contribution is that they formulate a distributed ledger that will be maintained and extended without the need of a trusted party. Bitcoin has…
In the area of blockchain, numerous methods have been proposed for suppressing intentional forks by attackers more effectively than the random rule. However, all of them, except for the random rule, require major updates, rely on a trusted…
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,…
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…
Decentralization is a key indicator for the evaluation of public blockchains. In the past, there have been very few studies on measuring and comparing the actual level of decentralization between Proof-of-Work (PoW) blockchains and…
In most popular public accessible cryptocurrency systems, the mining pool plays a key role because mining cryptocurrency with the mining pool turns the non-profitable situation into profitable for individual miners. In many recent novel…
Blockchains have recently gained popularity thanks to their ability to record "digital truth". They are designed to keep persistence, security, and avoid attacks which is useful for many applications. However, they are still problematic in…
The security of blockchain systems depends on the distribution of mining power across participants. If sufficient mining power is controlled by one entity, they can force their own version of events. This may allow them to double spend…
Blockchain technology transformed the digital sphere by providing a transparent, secure, and decentralized platform for data security across a range of industries, including cryptocurrencies and supply chain management. Blockchain's…
Payment channel networks (PCNs) such as the Lightning Network offer an appealing solution to the scalability problem faced by many cryptocurrencies operating on a blockchain such as Bitcoin. However, PCNs also inherit the stringent…
Proof-of-Work (PoW) is a popular consensus protocol used by Bitcoin since its inception. PoW has the well-known flaw of assigning all the reward to the single miner (or pool) that inserts the new block. This has the consequence of making…