Related papers: DECENT-BRM: Decentralization through Block Reward …
Mining attacks enable an adversary to procure a disproportionately large portion of mining rewards by deviating from honest mining practices within the PoW-based blockchain system. In this paper, we demonstrate that the security…
Blockchain systems are designed to produce blocks at a constant average rate. The most popular systems currently employ a Proof of Work (PoW) algorithm as a means of creating these blocks. Bitcoin produces, on average, one block every 10…
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…
This paper proposes a model that enables permissionless and decentralized networks for complex computations. We explore the integration and optimize load balancing in an open, decentralized computational network. Our model leverages…
Large proof of work (PoW) networks allow anyone to earn rewards by running computation-intensive hash puzzles for profit, yet they typically consume electricity comparable to that of medium-sized countries. Repurposing computing resources…
We study efficiency in a proof-of-work blockchain with non-zero latencies, focusing in particular on the (inequality in) individual miners' efficiencies. Prior work attributed differences in miners' efficiencies mostly to attacks, but we…
Proof-of-Work (PoW) is a Sybil control mechanism adopted in blockchain-based cryptocurrencies. It prevents the attempt of malicious actors to manipulate distributed ledgers. Bitcoin has successfully suppressed double-spending by accepting…
As cryptographic tokens and altcoins are increasingly being built to serve as utility tokens, the notion of useful work consensus protocols, as opposed to number-crunching PoW consensus, is becoming ever more important. In such contexts,…
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…
As an emerging decentralized secure data management platform, blockchain has gained much popularity recently. To maintain a canonical state of blockchain data record, proof-of-work based consensus protocols provide the nodes, referred to as…
This paper studies a fundamental problem regarding the security of blockchain PoW consensus on how the existence of multiple misbehaving miners influences the profitability of selfish mining. Each selfish miner (or attacker interchangeably)…
We introduce Auditable Proof-of-Work (APoW), a novel proof-of-work (PoW) construction inspired by Hashcash-style nonce searching, which enables the auditing of other miners' work through accountable re-scanning of the nonce space. The…
Proof-of-Work (PoW) blockchains have emerged as a robust and effective consensus mechanism in open environments, leading to widespread deployment with numerous cryptocurrency platforms and substantial investments. However, the commonly…
Today's world is organized based on merit and value. A single global currency that's decentralized is needed for a global economy. Bitcoin is a partial solution to this need, however it suffers from scalability problems which prevent it…
The core of a blockchain network is its consensus algorithm. Starting with the Proof-of-Work, there have been various versions of consensus algorithms, such as Proof-of-Stake (PoS), Proof-of-Authority (PoA), and Practical Byzantine Fault…
With the increasing adoption of decentralized information systems based on a variety of permissionless blockchain networks, the choice of consensus mechanism is at the core of many controversial discussions. Ethereum's recent transition…
Ethereum 2.0, as the preeminent smart contract blockchain platform, guarantees the precise execution of applications without third-party intervention. At its core, this system leverages the Proof-of-Stake (PoS) consensus mechanism, which…
A proof of work (PoW) is an important cryptographic construct enabling a party to convince others that they invested some effort in solving a computational task. Arguably, its main impact has been in the setting of cryptocurrencies such as…
Many protocols in distributed computing rely on a source of randomness, usually called a random beacon, both for their applicability and security. This is especially true for proof-of-stake blockchain protocols in which the next miner or…
Proof-of-Work blockchain, despite its numerous benefits, is still not an entirely secure technology due to the existence of Selfish Mining (SM) strategies that can disrupt the system and its mining economy. While the effect of SM has been…