Related papers: How to Rationally Select Your Delegatee in PoS
Most online lotteries today fail to ensure the verifiability of the random process and rely on a trusted third party. This issue has received little attention since the emergence of distributed protocols like Bitcoin that demonstrated the…
With the increasing adoption of the Proof of Stake (PoS) blockchain, it is timely to study the economy created by such blockchain. In this chapter, we will survey recent progress on the trading and wealth evolution in a cryptocurrency where…
Blockchains combine other technologies, such as cryptography, networking, and incentive mechanisms, to enable the creation, validation, and recording of transactions between participating nodes. A consensus algorithm is used in a blockchain…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…
Blockchain protocols differ in fundamental ways, including the mechanics of selecting users to produce blocks (e.g., proof-of-work vs. proof-of-stake) and the method to establish consensus (e.g., longest chain rules vs. Byzantine…
In proof-of-work based blockchains such as Ethereum, verification of blocks is an integral part of establishing consensus across nodes. However, in Ethereum, miners do not receive a reward for verifying. This implies that miners face the…
Countries like Estonia, Norway or Australia developed electronic voting systems, which could be used to realize parliamentary elections with the help of personal computers and the Internet. These systems are completely different in their…
This paper investigates which alternative benefits from vote delegation in binary collective decisions within blockchains. We begin by examining two extreme cases of voting weight distributions: Equal-Weight (EW), where each voter has equal…
Proof-of-Stake (PoS) consensus protocols often face a trade-off between performance and security. Protocols that pre-elect leaders for subsequent rounds are vulnerable to Denial-of-Service (DoS) attacks, which can disrupt the network and…
Blockchain consensus mechanisms must balance security, decentralization, and efficiency while ensuring fair participation. Proof of Team Sprint (PoTS) is a cooperative consensus mechanism designed to address the energy inefficiencies and…
Contemporary blockchain such as Bitcoin and Ethereum execute transactions serially by miners and validators and determine the Proof-of-Work (PoW). Such serial execution is unable to exploit modern multi-core resources efficiently, hence…
In the high-stakes race to develop more scalable blockchains, some platforms (Binance, Cosmos, EOS, TRON, etc.) have adopted committee-based consensus (CBC) protocols, whereby the blockchain's record-keeping rights are entrusted to a…
The introduction of Bitcoin fueled the development of blockchain-based resilient data management systems that are resilient against failures, enable federated data management, and can support data provenance. The key factor determining the…
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…
In blockchain systems, especially cryptographic currencies such as Bitcoin, the double-spending and Byzantine-general-like problem are solved by reaching consensus protocols among all nodes. The state-of-the-art protocols include…
On September 15, 2022, the Ethereum network adopted a proof-of-stake (PoS) consensus mechanism. We study the impact on the network and competing platforms in a two month event window around the Beacon chain merge. We find that the…
Like most modern blockchain networks, Ethereum has relied on economic incentives to promote honest participation in the chain's consensus. The distributed character of the platform, together with the "randomness" or "luck" factor that both…
In this paper, we propose a trust-centric privacy-preserving blockchain for dynamic spectrum access in IoT networks. To be specific, we propose a trust evaluation mechanism to evaluate the trustworthiness of sensing nodes and design a…
Geospatial decentralization is essential for blockchains, ensuring regulatory resilience, robustness, and fairness. We empirically analyze five major Proof of Stake (PoS) blockchains: Aptos, Avalanche, Ethereum, Solana, and Sui, revealing…
Delegated-Proof-of-Stake (DPoS) blockchains, such as EOSIO, Steem and TRON, are governed by a committee of block producers elected via a coin-based voting system. We recently witnessed the first de facto blockchain takeover that happened…