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Algorand is a recent, open-source public or permissionless blockchain system that employs a novel proof-of-stake byzantine consensus protocol to efficiently scale the distributed transaction agreement problem to billions of users. In…
Permissionless blockchain protocols are known to consume an outrageous amount of computing power and suffer from a trade-off between latency and confidence in transaction confirmation. The recently proposed Algorand blockchain protocol…
Algorand is a scalable and secure permissionless blockchain that achieves proof-of-stake consensus via cryptographic self-sortition and binary Byzantine agreement. In this paper we present a process algebraic model of the Algorand consensus…
Recently, an ingenious protocol called Algorand has been proposed to overcome these limitations. Algorand uses an innovative process - called cryptographic sortition - to securely and unpredictably elect a set of voters from the network…
In cryptocurrency-based permissionless blockchain networks, the decentralized structure enables any user to join and operate across different regions. The criminal entities exploit it by using cryptocurrency transactions on the blockchain…
The Algorand blockchain is a secure and decentralized public ledger based on pure proof of stake rather than proof of work. At its core it is a novel consensus protocol with exactly one block certified in each round: that is, the protocol…
ALGORAND is a celebrated public ledger technology. In this paper, we identify several design flaws of the ALGORAND protocol. In particular, we show that the claimed (proved) fork-free property is not true and several assumptions in ALGORAND…
Low transaction throughput and poor scalability are significant issues in public blockchain consensus protocols such as Bitcoins. Recent research efforts in this direction have proposed shard-based consensus protocols where the key idea is…
Process (or workflow) execution on blockchain suffers from limited scalability; specifically, costs in the form of transactions fees are a major limitation for employing traditional public blockchain platforms in practice. Research, so far,…
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)…
This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…
Given the parallels between game theory and consensus, it makes sense to intelligently design blockchain or DAG protocols with an incentive-compatible-first mentality. To that end, we propose a new blockchain or DAG protocol enhancement…
A public ledger is a tamperproof sequence of data that can be read and augmented by everyone. Public ledgers have innumerable and compelling uses. They can secure, in plain sight, all kinds of transactions ---such as titles, sales, and…
In a circular economy, tracking the flow of second-life components for quality control is critical. Tokenization can enhance the transparency of the flow of second-life components. However, simple tokenization does not correspond to real…
Blockchains have witnessed widespread adoption in the past decade in various fields. The growing demand makes their scalability and sustainability challenges more evident than ever. As a result, more and more blockchains have begun to adopt…
This paper investigates whether Bittensor can be considered the Bitcoin of decentralized Artificial Intelligence by directly comparing its tokenomics, decentralization properties, consensus mechanism, and incentive structure against those…
Blockchain Sharding is a blockchain performance enhancement approach. By splitting a blockchain into several parallel-run committees (shards), it helps increase transaction throughput, reduce computational resources required, and increase…
Polkadot is a network protocol launched in 2020 with the ambition of unlocking the full potential of blockchain technologies. Its novel multi-chain protocol allows arbitrary data to be transferred across heterogeneous blockchains, enabling…
Blockchain protocols incentivize participation through monetary rewards, assuming rational actors behave honestly to maximize their gains. However, attackers may attempt to harm others even at personal cost. These denial of profit attacks…
This paper presents a novel adversary model specifically tailored to distributed systems, aiming to assess the security of blockchain networks. Building upon concepts such as adversarial assumptions, goals, and capabilities, our proposed…