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Bitcoin blockchain faces the bitcoin scalability problem, for which bitcoin's blocks contain the transactions on the bitcoin network. The on-chain transaction processing capacity of the bitcoin network is limited by the average block…
Blockchain technology has been gaining great interest from a variety of sectors, including healthcare, supply chain and cryptocurrencies. However, Blockchain suffers from its limited ability to scale (i.e. low throughput and high latency).…
This paper develops a formal game-theoretic model to examine how protocol mutability disrupts cooperative mining behaviour in blockchain systems. Using a repeated game framework with stochastic rule shocks, we show that even minor…
This study provides a practical introduction to high-frequency trading in blockchain-based currency markets. These types of markets have some specific characteristics that differentiate them from the stock markets, such as a large number of…
Improving transaction throughput is an important challenge for Bitcoin. However, shortening the block generation interval or increasing the block size to improve throughput makes it sharing blocks within the network slower and increases the…
Proof-of-work computation used in cryptocurrencies has witnessed significant growth in the U.S. and many other regions around the world. One of the most significant bottlenecks for the scalable deployment of such computation is its energy…
Sharding is used to improve the scalability and performance of blockchain systems. We investigate the stability of blockchain sharding, where transactions are continuously generated by an adversarial model. The system consists of $n$…
We discuss the issue of what we call {\em incentive mismatch}, a fundamental problem with public blockchains supported by economic incentives. This is an open problem, but one potential solution is to make application portable. Portability…
Blockchains are modern distributed systems that provide decentralized financial capabilities with trustable guarantees. Smart contracts are programs written in specialized programming languages running on a blockchain and govern how tokens…
We examine blockchain technologies, especially smart contracts, as a platform for decentralized applications. By providing a basis for consensus, blockchain promises to upend business models that presuppose a central authority. However,…
An algorithmic stablecoin is a type of cryptocurrency managed by algorithms (i.e., smart contracts) to dynamically minimize the volatility of its price relative to a specific form of asset, e.g., US dollar. As algorithmic stablecoins have…
Blockchain has recently been able to draw wider attention throughout the research community. Since its emergence, the world has seen the mind-blowing expansion of this new technology, which was initially developed as a pawn of digital…
We study a game-theoretic model of blockchain mining economies and show that griefing, a practice according to which participants harm other participants at some lesser cost to themselves, is a prevalent threat at its Nash equilibria. The…
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 --…
We design and validate new block propagation protocols for the peer-to-peer (P2P) network of the Bitcoin blockchain. Despite its strong protection for security and privacy, the current Bitcoin blockchain can only support a low number of…
The cross-blockchain transaction remains one of the most challenging problems in blockchains. The root cause of the challenge lies in the nondeterministic nature of blockchains: A $n$-party transaction across multiple blockchains might be…
Blockchains lie at the heart of Bitcoin and other cryptocurrencies that have shown great promise to revolutionize finance and commerce. Although they are gaining increasing popularity, they face technical challenges when it comes to scaling…
Blockchain technology offers a promising foundation for modernizing E-Voting systems by enhancing transparency, decentralization, and security. Yet, real-world adoption remains limited due to persistent challenges such as scalability…
This paper is concerned with the stability of shares in a cryptocurrency where the new coins are issued according to the Proof of Stake protocol. We identify large, medium and small investors under various rewarding schemes, and show that…
As the public Ethereum network surpasses half a billion transactions and enterprise Blockchain systems becoming highly capable of meeting the demands of global deployments, production Blockchain applications are fast becoming commonplace…