Related papers: Securing Consensus from Long-Range Attacks through…
Blockchain has become a popular decentralized paradigm for various applications in the zero-trust environment. The core of the blockchain is the consensus protocol, which establishes consensus among all the participants. PoW (Proof-of-Work)…
The progress of deep learning (DL), especially the recent development of automatic design of networks, has brought unprecedented performance gains at heavy computational cost. On the other hand, blockchain systems routinely perform a huge…
In the white book of Bitcion, Satoshi Nakamoto described a bitcoin system that can realize point-to-point online payment without a third-party organization. After supporting this magical application scenario and subverting the traditional…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…
Blockchain protocols differ in fundamental ways, including the mechanics of selecting users to produce blocks (e.g., proof-of-work vs. proof-of-stake) and the method to establish consensus (e.g., longest chain rules vs. Byzantine…
The blockchain data structure maintained via the longest-chain rule---popularized by Bitcoin---is a powerful algorithmic tool for consensus algorithms. Such algorithms achieve consistency for blocks in the chain as a function of their depth…
We introduce Unity, a new consensus algorithm for public blockchain settings. Unity is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It encompasses hardware and…
Resource-based consensus is the backbone of permissionless distributed ledger systems. The security of such protocols relies fundamentally on the level of resources actively engaged in the system. The variety of different resources (and…
Popular distributed ledger technology (DLT) systems using proof-of-work (PoW) for Sybil attack resistance have extreme energy requirements, drawing stern criticism from academia, businesses, and the media. DLT systems building on…
Consensus mechanism is the core technology for blockchain to ensure that transactions are executed in sequence. It also determines the decentralization, security, and efficiency of blockchain. Existing mechanisms all have certain…
Proof of work (PoW), as the representative consensus protocol for blockchain, consumes enormous amounts of computation and energy to determine bookkeeping rights among miners but does not achieve any practical purposes. To address the…
Proof-of-Work (PoW) is a popular consensus protocol used by Bitcoin since its inception. PoW has the well-known flaw of assigning all the reward to the single miner (or pool) that inserts the new block. This has the consequence of making…
Proof of Stake (PoS) protocols rely on voting mechanisms to reach consensus on the current state. If an enhanced majority of staking nodes, also called validators, agree on a proposed block, then this block is appended to the blockchain.…
PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double SHA-256 hashing protocol-- the same mechanism used by Bitcoin Core. This compatibility with classic Bitcoin-style mining provides low barrier to entry for PAI Coin…
Byzantine Fault Tolerant (BFT) consensus exhibits higher throughput in comparison to Proof of Work (PoW) in blockchains. But BFT-based protocols suffer from scalability problems with respect to the number of replicas in the network. The…
The blockchain technology has achieved tremendous success in open (permissionless) decentralized consensus by employing proof-of-work (PoW) or its variants, whereby unauthorized nodes cannot gain disproportionate impact on consensus beyond…
Proof of Stake (PoS) blockchains offer promising alternatives to traditional Proof of Work (PoW) systems, providing scalability and energy efficiency. However, blockchains operate in a decentralized manner and the network is composed of…
Proof-of-Work (PoW) consensus mechanism is popular among current blockchain systems, which leads to an increasing concern about the tremendous waste of energy due to massive meaningless computation. To address this issue, we propose a novel…
Blockchains combine other technologies, such as cryptography, networking, and incentive mechanisms, to enable the creation, validation, and recording of transactions between participating nodes. A consensus algorithm is used in a blockchain…
In a blockchain system, consensus protocol as an incentive and security mechanism, is to ensure the participants to build the block honestly and effectively. There are different consensus protocols for blockchain, like Proof of work (PoW),…