Related papers: Measuring Miner Decentralization in Proof-of-Work …
The distribution of consensus power is a cornerstone of decentralisation, influencing the security, resilience, and fairness of blockchain networks while ensuring equitable impact among participants. This study provides a rigorous…
In recent years, blockchain technology has been recognized as a transformative innovation in the tech world, and it has quickly become the core infrastructure of digital currencies such as Bitcoin and an important tool in various…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
Most public blockchain protocols, including the popular Bitcoin and Ethereum blockchains, do not formally specify the order in which miners should select transactions from the pool of pending (or uncommitted) transactions for inclusion in…
Transaction fee mechanism design is a new decentralized mechanism design problem where users bid for space on the blockchain. Several recent works showed that the transaction fee mechanism design fundamentally departs from classical…
Despite Information and Communication Technologies (ICT) have reduced the information asymmetry and increased the degree of interorganizational collaboration, the companies participating a supply chain are less inclined to share data when…
Decentralization initiatives like Solid enable data owners to control who has access to their data and to stimulate innovation by creating both application and data markets. Once data owners share their data with others, though, it is no…
Blockchain is challenging the status quo of the central trust infrastructure currently prevalent in the Internet towards a design principle that is underscored by decentralization, transparency, and trusted auditability. In ideal terms,…
Rapidly growing distributed ledger technologies (DLTs) have recently received attention among researchers in both industry and academia. While a lot of existing analysis (mainly) of the Bitcoin and Ethereum networks is available, the lack…
As distributed ledgers, blockchains run consensus protocols which trade capacity for consistency, especially in non-ideal networks with incomplete connectivity and erroneous links. Existing studies on the tradeoff between capacity and…
Thanks to the advances in machine learning, data-driven analysis tools have become valuable solutions for various applications. However, there still remain essential challenges to develop effective data-driven methods because of the need to…
Most cryptocurrencies rely on Proof-of-Work (PoW) "mining" for resistance to Sybil and double-spending attacks, as well as a mechanism for currency issuance. Hashcash PoW has successfully secured the Bitcoin network since its inception,…
Mining blocks in a blockchain using the \textit{Proof-of-Work} consensus protocol involves significant risk, as network participants face continuous operational costs while earning infrequent capital gains upon successfully mining a block.…
Permissionless blockchains such as Bitcoin have long been criticized for their high computational and storage overhead. Unfortunately, while a number of proposals address the energy consumption of existing Proof-of-Work deployments, little…
To participate in the distributed consensus of permissionless blockchains, prospective nodes -- or miners -- provide proof of designated, costly resources. However, in contrast to the intended decentralization, current data on blockchain…
Intuitively there is a drastic distinction between the pure decentralized block-chain systems like Defis and those that only utilize block-chain as an enhancing technology but remain centralized with real-world business model and…
Blockchain technology enables secure, transparent data management in decentralized systems, supporting applications from cryptocurrencies like Bitcoin to tokenizing real-world assets like property. Its scalability and sustainability hinge…
Mining blocks on a blockchain equipped with a proof of work consensus protocol is well-known to be resource-consuming. A miner bears the operational cost, mainly electricity consumption and IT gear, of mining, and is compensated by a…
In the past decades, the blockchain technology has attracted tremendous attention from both academia and industry. The popularity of blockchain networks was originated from a crypto-currency to serve as a decentralized and tamperproof…