Related papers: Measuring Miner Decentralization in Proof-of-Work …
A blockchain is a decentralized ledger where all transactions are recorded. For having a reliable blockchain and double-spending prevention, we need a decentralized consensus and agreement on a blockchain. Bitcoin uses proof-of-work (PoW).…
In Proof-of-Work blockchains, difficulty algorithms serve the crucial purpose of maintaining a stable transaction throughput by dynamically adjusting the block difficulty in response to the miners' constantly changing computational power.…
Blockchain technology has revolutionized the digital landscape, driving innovations across industries through its decentralized and transparent infrastructure. These networks are primarily categorized as public or private, based on user…
Current cryptocurrencies, starting with Bitcoin, build a decentralized blockchain-based transaction ledger, maintained through proofs-of-work that also generate a monetary supply. Such decentralization has benefits, such as independence…
In the past decade, blockchain has shown a promising vision greatly to build the trust without any powerful third party in a secure, decentralized and salable manner. However, due to the wide application and future development from…
Blockchain is a decentralized, distributed ledger technology that ensures transparency, security, and immutability through cryptographic techniques. However, advancements in quantum computing threaten the security of classical cryptographic…
Bitcoin is the first of its kind, a truly decentralized and anonymous cryptocurrency. To realize it, it has developed blockchain technology using the concept of `Proof of Work' (PoW). The miners, nodes responsible for writing transaction…
As one of the most important and famous applications of blockchain technology, cryptocurrency has attracted extensive attention recently. Empowered by blockchain technology, all the transaction records of cryptocurrencies are irreversible…
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…
An open distributed system can be secured by requiring participants to present proof of work and rewarding them for participation. The Bitcoin digital currency introduced this mechanism, which is adopted by almost all contemporary digital…
The regulatory framework of cryptocurrencies (and, in general, blockchain tokens) is of paramount importance. This framework drives nearly all key decisions in the respective business areas. In this work, a computational model is proposed…
Blockchain has received a widespread attention because of its decentralized, tamper-proof, and transparent nature. Blockchain works over the principle of distributed, secured, and shared ledger, which is used to record, and track data…
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…
Various data-sharing platforms have emerged with the growing public demand for open data and legislation mandating certain data to remain open. Most of these platforms remain opaque, leading to many questions about data accuracy, provenance…
Decentralisation is one of the promises introduced by blockchain technologies: fair and secure interaction amongst peers with no dominant positions, single points of failure or censorship. Decentralisation, however, appears difficult to be…
The old mantra of decentralizing the Internet is coming again with fanfare, this time around the blockchain technology hype. We have already seen a technology supposed to change the nature of the Internet: peer-to-peer. The reality is that…
Several attacks have been proposed against Proof-of-Work blockchains, which may increase the attacker's share of mining rewards (e.g., selfish mining, block withholding). A further impact of such attacks, which has not been considered in…
Inspired by Bitcoin, many different kinds of cryptocurrencies based on blockchain technology have turned up on the market. Due to the special structure of the blockchain, it has been deemed impossible to directly trade between traditional…
Proof-of-work blockchains reward each miner for one completed block by an amount that is, in expectation, proportional to the number of hashes the miner contributed to the mining of the block. Is this proportional allocation rule optimal?…
We propose the formal study of governed blockchains that are owned and controlled by organizations and that neither create cryptocurrencies nor provide any incentives to solvers of cryptographic puzzles. We view such approaches as…