Related papers: Parallel Proof-of-Work with Concrete Bounds
We study the applicability of blockchain technology for distributed event detection under resource constraints. Therefore we provide a test-suite with several promising consensus methods (Proof-of-Work, Proof-of-Stake, Distributed…
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…
A principal vulnerability of a proof-of-work ("PoW") blockchain is that an attacker can re-write the history of transactions by forking a previously published block and build a new chain segment containing a different sequence of…
We argue that recent developments in proof-of-work consensus mechanisms can be used in accordance with advancements in formal verification techniques to build a distributed payment protocol that addresses important economic drawbacks from…
Several emerging PoW blockchain protocols rely on a "parallel-chain" architecture for scaling, where instead of a single chain, multiple chains are run in parallel and aggregated. A key requirement of practical PoW blockchains is to adapt…
The rise of computational power has led to unprecedented performance gains for deep learning models. As more data becomes available and model architectures become more complex, the need for more computational power increases. On the other…
Permissionless blockchains achieve consensus while allowing unknown nodes to join and leave the system at any time. They typically come in two flavors: proof of work (PoW) and proof of stake (PoS), and both are vulnerable to attacks. PoS…
We introduce a new permissionless blockchain architecture called ABC. ABC is completely asynchronous, and does rely on neither randomness nor proof-of-work. ABC can be parallelized, and transactions have finality within one round trip of…
Designing an efficient difficulty control algorithm is an essential problem in Proof-of-Work (PoW) based blockchains because the network hash rate is randomly changing. This paper proposes a general difficulty control algorithm and provides…
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…
In an emerging computing paradigm, computational capabilities, from processing power to storage capacities, are offered to users over communication networks as a cloud-based service. There, demanding computations are outsourced in order to…
In the paper, we present designs for multiple blockchain consensus primitives and a novel blockchain system, all based on the use of trusted execution environments (TEEs), such as Intel SGX-enabled CPUs. First, we show how using TEEs for…
In the field of distributed consensus and blockchains, the synchronous communication model assumes that all messages between honest parties are delayed at most by a known constant $\Delta$. Recent literature establishes that the…
The paper examines decentralized cryptocurrency protocols that are based on the use of internal tokens as identity tools. An analysis of security problems with popular Proof-of-stake consensus protocols is provided. A new protocol,…
Permissionless consensus protocols require a scarce resource to regulate leader election and provide Sybil resistance. Existing paradigms such as Proof of Work and Proof of Stake instantiate this scarcity through parallelizable resources…
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…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
Modern blockchains increasingly rely on parallel execution to improve throughput. We show several industry and academic transaction fee mechanisms (TFMs) struggle to simultaneously account for execution parallelism while remaining…
A fundamental conflict of many proof-of-work systems is that they want to achieve inclusiveness and security at the same time. We analyze and resolve this conflict with a theory of proof-of-work quorums, which enables a new bridge between…
Blockchain systems are designed to produce blocks at a constant average rate. The most popular systems currently employ a Proof of Work (PoW) algorithm as a means of creating these blocks. Bitcoin produces, on average, one block every 10…