Related papers: DECENT-BRM: Decentralization through Block Reward …
The consensus protocol named proof of work (PoW) is widely applied by cryptocurrencies like Bitcoin. Although security of a PoW cryptocurrency is always the top priority, it is threatened by mining attacks like selfish mining. Researchers…
This paper presents an empirical analysis of Steemit, a key representative of the emerging incentivized social media platforms over Blockchains, to understand and evaluate the actual level of decentralization and the practical effects of…
The security of blockchain systems depends on the distribution of mining power across participants. If sufficient mining power is controlled by one entity, they can force their own version of events. This may allow them to double spend…
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)…
Blockchains have sparked global interest in recent years, gaining importance as they increasingly influence technology and finance. This thesis investigates the robustness of blockchain protocols, specifically focusing on Ethereum…
In the context of blockchain systems, the importance of decentralization is undermined by the lack of a widely accepted methodology to measure it. To address this gap, we set out a systematization effort targeting the decentralization…
It is interesting but difficult and challenging to study Ethereum with multiple mining pools. One of the main difficulties comes from not only how to represent such a general tree with multiple block branches (or sub-chains) related to the…
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
This paper presents an empirical evaluation of the Proof of Team Sprint (PoTS) consensus algorithm, focusing on reward fairness, energy efficiency, system stability, and scalability. We conducted large-scale simulations comparing PoTS with…
The security of Bitcoin protocols is deeply dependent on the incentives provided to miners, which come from a combination of block rewards and transaction fees. As Bitcoin experiences more halving events, the protocol reward converges to…
An important feature of Proof-of-Work (PoW) blockchains is full dynamic availability, allowing miners to go online and offline while requiring only 50% of the online miners to be honest. Existing Proof-of-stake (PoS), Proof-of-Space and…
A problem of developing the consensus protocols in public blockchain systems which spend a combination of energy and space resources is addressed. A technique is proposed that provides a flexibility for selection of the energy and space…
The core of many cryptocurrencies is the decentralised validation network operating on proof-of-work technology. In these systems, validation is done by so-called miners who can digitally sign blocks once they solve a computationally-hard…
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…
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…
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…
The sixth generation (6G) systems are generally recognized to be established on ubiquitous Artificial Intelligence (AI) and distributed ledger such as blockchain. However, the AI training demands tremendous computing resource, which is…
PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double SHA-256 hashing protocol-- the same mechanism used by Bitcoin Core. This compatibility with classic Bitcoin-style mining provides low barrier to entry for PAI Coin…
Abrupt changes in the miner hash rate applied to a proof-of-work (PoW) blockchain can adversely affect user experience and security. Because different PoW blockchains often share hashing algorithms, miners face a complex choice in deciding…
We consider a project (model) owner that would like to train a model by utilizing the local private data and compute power of interested data owners, i.e., trainers. Our goal is to design a data marketplace for such decentralized…