Related papers: Proof-of-work consensus by quantum sampling
Bitcoin uses blockchain technology and proof-of-work (PoW) mechanism where nodes spend computing resources and earn rewards in return for spending these resources. This incentive system has caused power to be significantly biased towards a…
Boson sampling has been theoretically proposed and experimentally demonstrated to show quantum computational advantages. However, it still lacks the deep understanding of the practical applications of boson sampling. Here we propose that…
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…
A boson sampling device is a specialised quantum computer that solves a problem which is strongly believed to be computationally hard for classical computers. Recently a number of small-scale implementations have been reported, all based on…
We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and validators. Validators are system maintainers who get rewarded…
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…
We present a novel framework for analyzing blockchain consensus mechanisms by modeling blockchain growth as a Partially Observable Stochastic Game (POSG) which we reduce to a set of Partially Observable Markov Decision Processes (POMDPs)…
With the rapid growth of hyperconnected devices and decentralized data architectures, safeguarding Internet of Things (IoT) transactions is becoming increasingly challenging. Blockchain presents a promising solution, yet its effectiveness…
Since the invention of Bitcoin one decade ago, numerous cryptocurrencies have sprung into existence. Among these, proof-of-work is the most common mechanism for achieving consensus, whilst a number of coins have adopted "ASIC-resistance" as…
In Internet of Vehicles (IoV), data sharing among vehicles is essential to improve driving safety and enhance vehicular services. To ensure data sharing security and traceability, highefficiency Delegated Proof-of-Stake consensus scheme as…
Cryptocurrencies that are based on Proof-of-Work (PoW) often rely on special purpose hardware to perform so-called mining operations that secure the system, with miners receiving freshly minted tokens as a reward for their work. A notable…
Consensus protocols are crucial for a blockchain system as they are what allow agreement between the system's nodes in a potentially adversarial environment. For this reason, it is paramount to ensure their correct design and implementation…
We propose the formal study of governed blockchains that are owned and controlled by organizations and that neither create cryptocurrencies nor provide any incentives to solvers of cryptographic puzzles. We view such approaches as…
Proof of Stake (PoS) is a burgeoning Sybil resistance mechanism that aims to have a digital asset ("token") serve as security collateral in crypto networks. However, PoS has so far eluded a comprehensive threat model that encompasses both…
Photonics is a promising platform for demonstrating a quantum computational advantage (QCA) by outperforming the most powerful classical supercomputers on a well-defined computational task. Despite this promise, existing proposals and…
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…
Gaussian Boson Sampling (GBS) is a quantum computing concept based on drawing samples from a multimode nonclassical Gaussian state using photon-number resolving detectors. It was initially posed as a near-term approach aiming to achieve…
In most popular public accessible cryptocurrency systems, the mining pool plays a key role because mining cryptocurrency with the mining pool turns the non-profitable situation into profitable for individual miners. In many recent novel…
Decentralization is a foundational principle of permissionless blockchains, with consensus mechanisms serving a critical role in its realization. This study quantifies the decentralization of consensus mechanisms in proof-of-stake (PoS)…
This paper presents a study of the Poof-of-Stake (PoW) Ethereum consensus protocol, following the recent switch from Proof-of-Work (PoS) to Proof-of-Stake within Merge upgrade. The new protocol has resulted in reduced energy consumption and…