Related papers: Incentive Attacks on DAG-Based Blockchains with Ra…
In response to the bottleneck of processing throughput inherent to single chain PoW blockchains, several proposals have substituted a single chain for Directed Acyclic Graphs (DAGs). In this work, we investigate two notable DAG-oriented…
The blockchain brought interesting properties for many practical applications. However, some properties, such as the transaction processing throughput remained limited, especially in Proof-of-Work blockchains. Therefore, several promising…
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…
In this paper, we propose two models for scaling the transaction throughput in Proof-of-Work (PoW) based blockchain networks. In the first approach, a mathematical model has derived for optimal transaction throughput for PoW based longest…
Directed Acyclic Graph (DAG) is a popular approach to achieve scalability of blockchain networks. Due to its high efficiency in data communication and great scalability, DAG has been widely adopted in many applications such as Internet of…
We present parallel proof-of-work with DAG-style voting, a novel proof-of-work cryptocurrency protocol that, compared to Bitcoin, provides better consistency guarantees, higher transaction throughput, lower transaction confirmation latency,…
In the past decade, blockchain has emerged as a promising solution for building secure distributed ledgers and has attracted significant attention. However, current blockchain systems suffer from limited throughput, poor scalability, and…
Bitcoin is a decentralised digital currency that serves as an alternative to existing transaction systems based on an external central authority for security. Although Bitcoin has many desirable properties, one of its fundamental…
Transaction selection in parallel or DAG-based distributed ledger technologies (DLTs) is a crucial challenge that directly impacts throughput, fairness, and validator incentives. In these systems, validators independently choose…
Direct Acyclic Graph (DAG)-based ledger and the corresponding consensus algorithm has been identified as a promising technology for Internet of Things (IoT). Compared with Proof-of-Work (PoW) and Proof-of-Stake (PoS) that have been widely…
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…
We propose a novel consensus protocol based on a hybrid approach, that combines a directed acyclic graph (DAG) and a classical chain of blocks. This architecture allows us to enforce collective block construction, minimising the…
Order fairness in distributed ledgers refers to properties that relate the order in which transactions are sent or received to the order in which they are eventually finalized, i.e., totally ordered. The study of such properties is…
Selfish Mining is strategic rule-breaking to maximize rewards in proof-of-work protocols [3] and Markov Decision Processes (MDPs) are the preferred tool for finding optimal strategies in Bitcoin [4, 10] and similar linear chain protocols…
The rise of cryptocurrencies like Bitcoin and Ethereum has driven interest in blockchain database technology, with smart contracts enabling the growth of decentralized finance (DeFi). However, research has shown that adversaries exploit…
Blockchain is maintained as a global log between a network of nodes and uses cryptographic distributed protocols to synchronize the updates. As adopted by Bitcoin and Ethereum these update operations to the ledger are serialized, and…
Blockchain plays an important role in cryptocurrency markets and technology services. However, limitations on high latency and low scalability retard their adoptions and applications in classic designs. Reconstructed blockchain systems have…
A recent approach to building consensus protocols on top of Directed Acyclic Graphs (DAGs) shows much promise due to its simplicity and stable throughput. However, as each node in the DAG typically includes a linear number of references to…
Bitcoin-NG is an extensible blockchain protocol based on the same trust model as Bitcoin. It divides each epoch into one Key-Block and multiple Micro-Blocks, effectively improving transaction processing capacity. Bitcoin-NG adopts a special…
Blockchain security is threatened by selfish mining, where a miner (operator) deviates from the protocol to increase their revenue. Selfish mining is exacerbated by adverse conditions: rushing (network propagation advantage for the selfish…