Related papers: CompactChain:An Efficient Stateless Chain for UTXO…
The development of underlying technologies in blockchain mostly revolves around a difficult problem: how to enhance the performance of the system and reduce various costs of nodes (such as communication, storage and verification) without…
Consensus is unnecessary when the truth is available. In this paper, we present a new perspective of rebuilding the blockchain without consensus. When the consensus phase is eliminated from a blockchain, transactions could be canonized…
Security bugs and trapdoors in smart contracts have been impacting the Ethereum community since its inception. Conceptually, the 1.45-million Ethereum's contracts form a single "gigantic program" whose behaviors are determined by the…
We present Fission, a new permissionless blockchain that achieves scalability in both terms of system throughput and transaction confirmation time, while at the same time, retaining blockchain's core values of equality and decentralization.…
In this paper, we propose FedChain, a novel framework for federated-blockchain systems, to enable effective transferring of tokens between different blockchain networks. Particularly, we first introduce a federated-blockchain system…
There are different interpretations of the terms "tokens" and "token-based systems" in the literature around blockchain and digital currencies although the distinction between token-based and account-based systems is well entrenched in…
In this paper, we present the most extensive evaluation of blockchain system to date. To achieve scalability across servers in more than 10 countries located on 4 different continents, we drastically revisited Byzantine fault tolerant…
Blockchain has received tremendous attention in non-monetary applications including the Internet of Things (IoT) due to its salient features including decentralization, security, auditability, and anonymity. Most conventional blockchains…
Blockchain technology is ushering in another break-out year, the challenge of blockchain still remains to be solved. This paper analyzes the features of Bitcoin and Bitcoin-NG system based on blockchain, proposes an improved method of…
We study a mechanism design problem in the blockchain proof-of-stake (PoS) protocol. Our main objective is to extend the transaction fee mechanism (TFM) recently proposed in Chung and Shi (SODA, p.3856-3899, 2023), so as to incorporate a…
A blockchain system is a replicated state machine that must be fault tolerant. When designing a blockchain system, there is usually a trade-off between decentralization, scalability, and security. In this paper, we propose a novel…
Bitcoin transactions include unspent transaction outputs (UTXOs) as their inputs and generate one or more newly owned UTXOs at specified addresses. Each UTXO can only be used as an input in a transaction once, and using it in two or more…
Blockchain performance has historically faced challenges posed by the throughput limitations of consensus algorithms. Recent breakthroughs in research have successfully alleviated these constraints by introducing a modular architecture that…
Blockchain technology facilitates the development of decentralized systems that ensure trust and transparency without the need for expensive centralized intermediaries. However, existing blockchain architectures particularly consortium…
Byzantine Fault Tolerant (BFT) consensus forms the foundation of many modern blockchains striving for both high throughput and low latency. A growing bottleneck is transaction execution and validation on the critical path of consensus,…
Micropayment channels are the most prominent solution to the limitation on transaction throughput in current blockchain systems. However, in practice channels are risky because participants have to be online constantly to avoid fraud, and…
Scalability remains one of the biggest challenges to the adoption of permissioned blockchain technologies for large-scale deployments. Permissioned blockchains typically exhibit low latencies, compared to permissionless deployments --…
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…
We condense the theory of blockchains down to a simple and compact set of four type equations (Idealised EUTxO), and to an algebraic characterisation (abstract chunk systems), and exhibit an adjoint pair of functors between them. This gives…
Blockchain technology has become a trusted method for establishing secure and transparent transactions through a distributed, encrypted network. The operation of blockchain is governed by consensus algorithms, among which Proof of Stake…