Related papers: Bayesian Mechanism Design for Blockchain Transacti…
We study the strategic implications that arise from adding one extra option to the miners participating in the bitcoin protocol. We propose that when adding a block, miners also have the ability to pay forward an amount to be collected by…
Blockchain is a decentralized system that allows transaction transmission and storage according to the roles of the Consensus algorithm and Smart contracts. Non-fungible tokens (NFTs) consolidate the best characteristics of blockchain…
The Bitcoin payment system involves two agent types: Users that transact with the currency and pay fees and miners in charge of authorizing transactions and securing the system in return for these fees. Two of Bitcoin's challenges are (i)…
Existing permissionless blockchain solutions rely on peer-to-peer propagation mechanisms, where nodes in a network transfer transaction they received to their neighbors. Unfortunately, there is no explicit incentive for such transaction…
Blockchain systems benefit from lessons in prior art such as fault tolerance, distributed systems, peer-to-peer systems, and game theory. In this paper we argue that blockchain algorithms should tolerate both rational (self-interested)…
The mining process in blockchain requires solving a proof-of-work puzzle, which is resource expensive to implement in mobile devices due to the high computing power and energy needed. In this paper, we, for the first time, consider edge…
In recent years, many Blockchain based frameworks for transacting commodities on a congestible network have been proposed. In particular, as the number of controllable grid connected assets increases, there is a need for a decentralized,…
Transaction fee markets are essential components of blockchain economies, as they resolve the inherent scarcity in the number of transactions that can be added to each block. In early blockchain protocols, this scarcity was resolved through…
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?…
The Internet of Things (IoT) connected by Software Defined Networking (SDN) promises to bring great benefits to cyber-physical systems. However, the increased attack surface offered by the growing number of connected vulnerable devices and…
Payment channel networks (PCNs) are a promising solution to the scalability problem of cryptocurrencies. Any two users connected by a payment channel in the network can theoretically send an unbounded number of instant, costless…
In the face of limited block size, miners (e.g., in Bitcoin) prioritize high-bid transactions, forming a large part of their revenue. If the block size were to expand significantly, meeting all transaction demand due to infrastructure or…
The Committee Selection Mechanism can select multiple users of blockchain network to execute a consensus algorithm, such as PBFT. In order to guarantee two properties, the mathematical form of the mechanism is relatively limited. Further,…
Bitcoin is a decentralised digital currency that serves as an alternative to existing transaction systems based on an external central authority for security. Although Bitcoin has many desirable properties, one of its fundamental…
Bitcoin is the most successful cryptocurrency so far. This is mainly due to its novel consensus algorithm, which is based on proof-of-work combined with a cryptographically-protected data structure and a rewarding scheme that incentivizes…
In open Federated Learning (FL) environments where no central authority exists, ensuring collaboration fairness relies on decentralized reward settlement, yet the prohibitive cost of permissionless blockchains directly clashes with the…
Current blockchain technologies provide very limited means of interoperability. In particular, solutions enabling blockchains to verify the existence of data on other blockchains are either very costly or are not fully decentralized. To…
The security of Bitcoin protocols is deeply dependent on the incentives provided to miners, which come from a combination of block rewards and transaction fees. As Bitcoin experiences more halving events, the protocol reward converges to…
As a trusted middleware connecting the blockchain and the real world, the blockchain oracle can obtain trusted real-time price information for financial applications such as payment and settlement, and asset valuation on the blockchain.…
Ethereum 2.0 is the second-largest cryptocurrency by market capitalization and a widely used smart contract platform. Therefore, examining the reliability of Ethereum 2.0's incentive mechanism is crucial, particularly its effectiveness in…