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In the given technology-driven era, smart cities are the next frontier of technology, aiming at improving the quality of people's lives. Many research works focus on future smart cities with a holistic approach towards smart city…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
We study financial transaction confirmation finality in Bitcoin as a function of transaction amount and user risk tolerance. A transaction is recorded in a block on a blockchain. However, a transaction may be revoked due to a fork in the…
Blockchain and blockchain-inspired decentralized applications are on the rise thanks to their unique characteristics such as their decentralized nature, anonymity, and tamper-proof nature; however, blockchain transactions tend to experience…
Although blockchains have become widely popular for their use in cryptocurrencies, they are now becoming pervasive as more traditional applications adopt blockchain to ensure data security. Despite being a secured network, blockchains have…
Transaction throughput, confirmation latency and confirmation reliability are fundamental performance measures of any blockchain system in addition to its security. In a decentralized setting, these measures are limited by two underlying…
Since the inception of Bitcoin, cryptocurrencies and the underlying blockchain technology have attracted an increasing interest from both academia and industry. Among various core components, consensus protocol is the defining technology…
We present and validate a novel mathematical model of the blockchain mining process and use it to conduct an economic evaluation of the double-spend attack, which is fundamental to all blockchain systems. Our analysis focuses on the value…
Blockchain (BC) technology can revolutionize future networks by providing a distributed, secure, and unalterable way to boost collaboration among operators, users, and other stakeholders. Its implementations have traditionally been…
Increasing popularity of trading digital assets can lead to significant delays in Blockchain networks when processing transactions. When transaction fees become miners' primary revenue, an imbalance in reward may lead to miners adopting…
Quorum is a permissioned blockchain platform built from the Ethereum codebase with adaptations to make it a permissioned consortium platform. It is one of the key contenders in the permissioned ledger space. Quorum supports confidentiality…
Bitcoin is a peer-to-peer payment system proposed by Nakamoto in 2008. Based on the Nakamoto consensus, Bagaria, Kannan, Tse, Fanti, and Viswanath proposed the Prism protocol in 2018 and showed that it achieves near-optimal blockchain…
Blockchain enables peer-to-peer transactions in cyberspace without a trusted third party. The rapid growth of Ethereum and smart contract blockchains generally calls for well-designed Transaction Fee Mechanisms (TFMs) to allocate limited…
End-to-end blockchain latency has become a critical topic of interest in both academia and industry. However, while modern blockchain systems process transactions through multiple stages, most research has primarily focused on optimizing…
Blockchain technology has developed significantly over the last decade. One of the reasons for this is its sustainability architecture, which does not allow modification of the history of committed transactions. That means that developers…
In this study, we propose PRETRUST, a new framework to address the problem of the efficiency of payment process based on blockchain systems. PRETRUST is based on the thoughts of consortium chains, supporting fast payments. To make parties…
Banking as an essential service can be hard to access in remote, rural regions where the network connectivity is intermittent. Although micro-banking has been made possible by SMS or USSD messages in some places, their security flaws and…
The advent of blockchain technology by the Nakamoto group in 2008 has created a new trend on how to deal with various security issues and vulnerabilities. Blockchain systems have gained momentum in various spheres of technology deployment…
Cryptocurrency networks such as Bitcoin have emerged as a distributed alternative to traditional centralized financial transaction networks. However, there are major challenges in scaling up the throughput of such networks. Lightning…
The blocks in the Bitcoin blockchain record the amount of work W that went into creating them through proofs of work. When honest parties control a majority of the work, consensus is achieved by picking the chain with the highest recorded…