Related papers: Incentive Attacks on DAG-Based Blockchains with Ra…
Distributed Ledger Technologies provide a mechanism to achieve ordering among transactions that are scattered on multiple participants with no prerequisite trust relations. This mechanism is essentially based on the idea of new transactions…
Proof-of-Stake blockchains based on a longest-chain consensus protocol are an attractive energy-friendly alternative to the Proof-of-Work paradigm. However, formal barriers to "getting the incentives right" were recently discovered, driven…
We study the incentives behind double-spend attacks on Nakamoto-style Proof-of-Work cryptocurrencies. In these systems, miners are allowed to choose which transactions to reference with their block, and a common strategy for selecting…
The feed-forward relationship naturally observed in time-dependent processes and in a diverse number of real systems -such as some food-webs and electronic and neural wiring- can be described in terms of so-called directed acyclic graphs…
Layer 2 systems have received increasing attention due to their potential to scale the throughput of L1 blockchains. To avoid the cost of putting data on chain, these systems increasingly turn to off-chain data availability solutions such…
We analyze bribing attacks in Proof-of-Stake distributed ledgers from a game theoretic perspective. In bribing attacks, an adversary offers participants a reward in exchange for instructing them how to behave, with the goal of attacking the…
Access control is a fundamental component of the design of distributed ledgers, influencing many aspects of their design, such as fairness, efficiency, traditional notions of network security, and adversarial attacks such as…
Blockchain systems often rely on rationality assumptions for their security, expecting that nodes are motivated to maximize their profits. These systems thus design their protocols to incentivize nodes to execute the honest protocol but…
Bitcoin's (BTC) Difficulty Adjustment Algorithm (DAA) has been a source of vulnerability for incentive attacks such as selfish mining, block withholding and coin hopping strategies. In this paper, first, we rigorously study the short-term…
Our aim in this paper is to investigate the profitability of double-spending (DS) attacks that manipulate an a priori mined transaction in a blockchain. It was well understood that a successful DS attack is established when the proportion…
Incentive mechanisms are central to the functionality of permissionless blockchains: they incentivize participants to run and secure the underlying consensus protocol. Designing incentive-compatible incentive mechanisms is notoriously…
Blockchain and other decentralized databases, known as distributed ledgers, are designed to store information online where all trusted network members can update the data with transparency. The dynamics of ledger's development can be…
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…
The robust construction of the ledger data structure is an essential ingredient for the safe operation of a distributed ledger. While in traditional linear blockchain systems, permission to append to the structure is leader-based, in…
In this paper, we study how to optimize existing Non-Fungible Token (NFT) incentives. Upon exploring a large number of NFT-related standards and real-world projects, we come across an unexpected finding. That is, the current NFT incentive…
Strategic mining attacks, such as selfish mining, exploit blockchain consensus protocols by deviating from honest behavior to maximize rewards. Markov Decision Process (MDP) analysis faces scalability challenges in modern digital economics,…
DAG-based protocols have been proposed as potential solutions to the latency and throughput limitations of traditional permissionless consensus protocols. However, their adoption has been hindered by security concerns and a lack of a solid…
All public blockchains are secured by a proof of opportunity cost among block producers. For example, the security offered by proof-of-work (PoW) systems, like Bitcoin, is due to spent computation; it is work precisely because it cannot be…
This paper introduces a novel architecture for a distributed ledger, commonly referred to as a "blockchain", which is organized in the form of directed acyclic graph (DAG) with UTXO transactions as vertices, rather than as a chain of…
The investigation of directed acyclic graphs (DAGs) encoding the same Markov property, that is the same conditional independence relations of multivariate observational distributions, has a long tradition; many algorithms exist for model…