Related papers: Agent-Based Modelling of Ethereum Consensus
Cooperation is fundamental for human prosperity. Blockchain, as a trust machine, is a cooperative institution in cyberspace that supports cooperation through distributed trust with consensus protocols. While studies in computer science…
Proof-of-Work (PoW) is a fundamental underlying technology behind most major blockchain cryptocurrencies. It has been previously pointed out that quantum devices provide a computational advantage in performing PoW in the context of Bitcoin.…
Blockchain-based consensus protocols present the opportunity to develop new protocols, due to their novel requirements of open participation and explicit incentivization of participants. To address the first requirement, it is necessary to…
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…
Existing research on federated learning has been focused on the setting where learning is coordinated by a centralized entity. Yet the greatest potential of future collaborative intelligence would be unleashed in a more open and…
Proof-of-stake blockchains require consensus protocols that support Dynamic Availability and Reconfiguration (so-called DAR setting), where the former means that the consensus protocol should remain live even if a large number of nodes…
We develop a continuous-time control approach to optimal trading in a Proof-of-Stake (PoS) blockchain, formulated as a consumption-investment problem that aims to strike the optimal balance between a participant's (or agent's) utility from…
Blockchain as a promising technology is gaining its popularity ever since proof-of-work based Bitcoin came to the world. Nevertheless, Bitcoin achieves consensus at an expensive cost of energy. Proof-of-stake is one of the solutions for…
The comparative analysis examined eleven Proof-of-Stake (PoS) consensus-based blockchain networks to assess their openness based on five indicative metrics. These metrics include those of decentralization-related aspects, such as the number…
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…
A principal vulnerability of a proof-of-work ("PoW") blockchain is that an attacker can re-write the history of transactions by forking a previously published block and build a new chain segment containing a different sequence of…
Permission-less blockchains can realise trustless trust, albeit at the cost of limiting the complexity of computation tasks. To explain the implications for scalability, we have implemented a trust model for smart contracts, described as…
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…
This paper presents a reformulation in topos logic of a safety result arising in an abstract presentation of blockchain consensus protocols. That is, in a high-level template for "correct-by-construction" consensus protocols, it is shown…
Blockchain is a type of decentralized distributed network which acts as an immutable digital ledger. Despite the absence of any central governing authority to validate the blocks in the ledger, it is considered secure and immutable due to…
The security of most existing cryptocurrencies is based on a concept called Proof-of-Work, in which users must solve a computationally hard cryptopuzzle to authorize transactions (`one unit of computation, one vote'). This leads to enormous…
Blockchain relay schemes enable cross-chain state proofs without requiring trusted intermediaries. This is achieved by applying the source blockchain's consensus validation protocol on the target blockchain. Existing chain relays allow for…
Proof-of-Work~(PoW) based blockchains typically allocate only a tiny fraction (e.g., less than 1% for Ethereum) of the average interarrival time~($\mathbb{I}$) between blocks for validating transactions. A trivial increase in validation…
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…
On March 13, 2024, Ethereum implemented EIP-4844, designed to enhance its role as a data availability layer. While this upgrade reduces data posting costs for rollups, it also raises concerns about its impact on the consensus layer due to…