Related papers: Agent-Based Modelling of Ethereum Consensus
Throughput limitations of existing blockchain architectures are well documented and are one of the most significant hurdles for their wide-spread adoption. In our previous proof-of-concept work, we have shown that separating computation…
The energy sustainability of blockchains, whose consensus protocol rests on the Proof-of-Work, nourishes a heated debate. The underlying issue lies in a highly energy-consuming process, defined as mining, required to validate crypto-asset…
Owing to some special characteristics and features, blockchain is a very useful technique that can securely organize diverse devices in a smart city. It finds wide applications, especially in distributed environments, where entities such as…
We lay the foundations for a blockchain scheme, whose consensus is reached via a proof of work algorithm based on the solution of consecutive discrete logarithm problems over the point group of elliptic curves. In the considered…
As of July 15, 2023, Ethererum, which is a Proof-of-Stake (PoS) blockchain [1] has around 410 Billion USD in total assets on chain (popularly referred to as total-value-locked, TVL) but has only 33 Billion USD worth of ETH staked in…
A companion paper defined the notion of digital social contracts, presented a design for a social-contracts programming language, and demonstrated its potential utility via example social contracts. The envisioned setup consists of people…
This paper presents a consensus algorithm for a multi-agent system where each agent has access to its imperfect own state and neighboring state measurements. The measurements are subject to deterministic disturbances and the proposed…
Security analysis of blockchain technology is an active domain of research. There has been both cryptographic and game-theoretic security analysis of Proof-of-Work (PoW) blockchains. Prominent work includes the cryptographic security…
Blockchain and distributed ledger technologies rely on distributed consensus algorithms. In recent years many consensus algorithms and protocols have been proposed; most of them are for permissioned blockchain networks. However, the…
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…
We propose a refinement to the well known, and widely used, proof-of-work scheme of zeroing a cryptographic hash. Our refinement allows multiple autonomous users to cooperate on the proof-of-work for their own transactions in order to bring…
Though voting-based consensus algorithms in Blockchain outperform proof-based ones in energy- and transaction-efficiency, they are prone to incur wrong elections and bribery elections. The former originates from the uncertainties of…
There is surge of interest to the blockchain technology not only in the scientific community but in the business community as well. Proof of Work (PoW) and Byzantine Fault Tolerant (BFT) are the two main classes of consensus protocols that…
The error-correction code based proof-of-work (ECCPoW) algorithm is based on a low-density parity-check (LDPC) code. The ECCPoW is possible to impair ASIC with its time-varying capability of the parameters of LDPC code. Previous researches…
Consensus mechanism is the heart of any blockchain network. Many projects have proposed alternative protocols to improve restricted scalability of Proof of Work originated since Bitcoin. As an improvement of Delegated Proof of Stake, in…
Blockchain stores information into a chain of "blocks", whose integrity is usually guaranteed by Proof of Work (PoW). In many blockchain applications (including cryptocurrencies), users compete with each other to win the ownership of the…
Despite their increasing popularity, blockchains still suffer from severe scalability limitations. Recently, Ethereum proposed a novel approach to block validation based on Data Availability Sampling (DAS), that has the potential to improve…
Layer 1 (L1) blockchains such as Ethereum are secured under an "honest supermajority of stake" assumption for a large pool of validators who verify each and every transaction on it. This high security comes at a scalability cost which not…
The paper examines decentralized cryptocurrency protocols that are based on the use of internal tokens as identity tools. An analysis of security problems with popular Proof-of-stake consensus protocols is provided. A new protocol,…
Blockchain technology and, more generally, distributed ledger technology (DLT) systems, face public scrutiny for their energy consumption levels. However, many point out that high energy consumption is a feature of (small block size)…