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We present a scalable architecture for electronic retail payments via central bank digital currency and offer a solution to the perceived conflict between robust regulatory oversight and consumer affordances such as privacy and control. Our…
Bitcoin brings a new type of digital currency that does not rely on a central system to maintain transactions. By benefiting from the concept of decentralized ledger, users who do not know or trust each other can still conduct transactions…
Allocation of resources and their control over multiple organisations is challenging. This is especially true for a large-scale and dynamic system like the Internet of Things (IoT). One of the core issues in such a system is the provision…
Multi-agents systems communication is a technology, which provides a way for multiple interacting intelligent agents to communicate with each other and with environment. Multiple-agent systems are used to solve problems that are difficult…
There are a multitude of Blockchain-based physical infrastructure systems, operating on a crypto-currency enabled token economy, where infrastructure suppliers are rewarded with tokens for enabling, validating, managing and/or securing the…
The price volatility of cryptocurrencies is often cited as a major hindrance to their wide-scale adoption. Consequently, during the last two years, multiple so called stablecoins have surfaced---cryptocurrencies focused on maintaining…
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…
Research challenges such as climate change and the search for habitable planets increasingly use academic and commercial computing resources distributed across different institutions and physical sites. Furthermore, such analyses often…
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…
Sending money in cryptocurrencies is majorly based on public keys or their hashed forms -- "addresses." These long random-looking strings are user unfriendly for transferring by other means than via copy-and-paste or QR codes. Replacing…
The aim of this article is to propose a core game theory model of transaction costs wherein it is indicated how direct costs determine the probability of loss and subsequent transaction costs. The existence of optimum is proven, and the way…
The rise of Decentralized Finance ("DeFi") on the Ethereum blockchain has enabled the creation of lending platforms, which serve as marketplaces to lend and borrow digital currencies. We first categorize the activity of lending platforms…
Recent trend towards cloud computing paradigm, smart devices and 4G wireless technologies has enabled seamless data sharing among users. Cloud computing environment is distributed and untrusted, hence data owners have to encrypt their data…
We study optimal investment in a financial market having a finite number of assets from a signal processing perspective. We investigate how an investor should distribute capital over these assets and when he should reallocate the…
We present an example where a distributed coordinated protocol supported by a blockchain-enabled monetary mechanism leads to achieving optimal information theoretic degrees of freedom gains. The considered setting is that of a linear…
We introduce proof of spending in a block-chain system. In this system the probability for a node to create a legal block is proportional to the total amount of coins it has spent in history.
We study a class of binary detection problems involving a single fusion center and a large or countably infinite number of sensors. Each sensor acts under a decentralized information structure, accessing only a local noisy observation…
This paper presents a pioneering approach for simulation of economic activity, policy implementation, and pricing of goods in token economies. The paper proposes a formal analysis framework for wealth distribution analysis and simulation of…
In traditional banking, repeated deposit-and-lend cycles let a single dollar of reserves support multiple dollars of claims. Decentralized finance produces an analogous structure with tokens. Constructing a Token Graph of 10,200 tokens…
The use of distributed optimization in machine learning can be motivated either by the resulting preservation of privacy or the increase in computational efficiency. On the one hand, training data might be stored across multiple devices.…