Related papers: Refined Bitcoin Security-Latency Under Network Del…
We analyze how secure a block is after the block becomes $k$-deep, i.e., security-latency, for Nakamoto consensus under an exponential network delay model. We provide the fault tolerance and extensive bounds on safety violation…
Simple closed-form upper and lower bounds are developed for the security of the Nakamoto consensus as a function of the confirmation depth, the honest and adversarial block mining rates, and an upper bound on the block propagation delay.…
Safety guarantees and security-latency problem of Nakamoto consensus have been extensively studied in the last decade with a bounded delay model. Recent studies have shown that PoW protocol is secure under random delay models as well. In…
This paper studies proof-of-work Nakamoto consensus protocols under bounded network delays, settling two long-standing questions in blockchain security: What is the most effective attack on block safety under a given block confirmation…
This paper investigates the fundamental trade-offs between block safety, confirmation latency, and transaction throughput of proof-of-work (PoW) longest-chain fork-choice protocols, also known as PoW Nakamoto consensus. New upper and lower…
Traditional security models for Nakamoto-style blockchains assume instantaneous synchronization among malicious nodes, which overestimate adversarial coordination capability. We revisit these existing models and propose two more realistic…
Extensive research on Nakamoto-style consensus protocols has shown that network delays degrade the security of these protocols. Established results indicate that, perhaps surprisingly, maximal security is achieved when the network is as…
We investigate the time to consensus in Nakamoto blockchains. Specifically, we consider two competing growth processes, labeled \emph{honest} and \emph{adversarial}, and determine the time after which the honest process permananetly exceeds…
Formal analyses of blockchain protocols have received much attention recently. Consistency results of Nakamoto's blockchain protocol are often expressed in a quantity $c$, which denotes the expected number of network delays before some…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…
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…
Nakamoto consensus underlies the security of many of the world's largest cryptocurrencies, such as Bitcoin and Ethereum. Common lore is that Nakamoto consensus only achieves consistency and liveness under a regime where the difficulty of…
In the Bitcoin white paper, Nakamoto proposed a very simple Byzantine fault tolerant consensus algorithm that is also known as Nakamoto consensus. Despite its simplicity, some existing analysis of Nakamoto consensus appears to be long and…
It has been known for some time that the Nakamoto consensus as implemented in the Bitcoin protocol is not totally aligned with the individual interests of the participants. More precisely, it has been shown that block withholding mining…
Theoretical guarantees for double spending probabilities for the Nakamoto consensus under the $k$-deep confirmation rule have been extensively studied for zero/bounded network delays and fixed mining rates. In this paper, we introduce a…
For Nakamoto's longest-chain consensus protocol, whose proof-of-work (PoW) and proof-of-stake (PoS) variants power major blockchains such as Bitcoin and Cardano, we revisit the classic problem of the security-performance tradeoff: Given a…
Initiated from Nakamoto's Bitcoin system, blockchain technology has demonstrated great capability of building secure consensus among decentralized parties at Internet-scale, i.e., without relying on any centralized trusted party. Nowadays,…
Since the inception of Bitcoin, cryptocurrencies and the underlying blockchain technology have attracted an increasing interest from both academia and industry. Among various core components, consensus protocol is the defining technology…
Blockchains based on the celebrated Nakamoto consensus protocol have shown promise in several applications, including cryptocurrencies. However, these blockchains have inherent scalability limits caused by the protocol's consensus…
Bitcoin is a peer-to-peer payment system proposed by Nakamoto in 2008. Based on the Nakamoto consensus, Bagaria, Kannan, Tse, Fanti, and Viswanath proposed the Prism protocol in 2018 and showed that it achieves near-optimal blockchain…