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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…
Forking breaches the security and performance of blockchain as it is symptomatic of distributed consensus, spurring wide interest in analyzing and resolving it. The state-of-the-art works can be categorized into two kinds: experiment-based…
Due to the increasing interest in blockchain technology for fostering secure, auditable, decentralized applications, a set of challenges associated with this technology need to be addressed. In this letter, we focus on the delay associated…
We propose a refinement to the well known, and widely used, proof-of-work scheme of zeroing a cryptographic hash. Our refinement allows multiple autonomous users to cooperate on the proof-of-work for their own transactions in order to bring…
Bitcoin is a decentralized crypto-currency, and an accompanying protocol, created in 2008. Bitcoin nodes continuously generate and propagate blocks---collections of newly approved transactions that are added to Bitcoin's ledger. Block…
Bitcoin mining presents a significant economic incentive for efficient hashing and broadcast of data, both parameters stemming from the Proofs of Work used to advance the network. This incentive has led to the development of Bitcoin…
Blockchain plays a crucial role in ensuring the security and integrity of decentralized systems, with the proof-of-work (PoW) mechanism being fundamental for achieving distributed consensus. As PoW blockchains see broader adoption, an…
Since its proposal by Eyal and Sirer (CACM '13), selfish mining attack on proof-of-work blockchains has been studied extensively in terms of both improving its impact and defending against it. Before any defense is deployed in a real world…
Grover's algorithm confers on quantum computers a quadratic advantage over classical computers for searching in an arbitrary data set, a scenario that describes Bitcoin mining. It has previously been argued that the only side-effect of…
Mining blocks on a blockchain equipped with a proof of work consensus protocol is well-known to be resource-consuming. A miner bears the operational cost, mainly electricity consumption and IT gear, of mining, and is compensated by a…
Seminal work of Eyal and Sirer (2014) establishes that a strategic Bitcoin miner may strictly profit by deviating from the intended Bitcoin protocol, using a strategy now termed *selfish mining*. More specifically, any miner with $>1/3$ of…
Proof of Work (PoW) has extensively served as the foundation of blockchain's security, consistency, and tamper-resistance. However, long has it been criticized for its tremendous and inefficient utilization of computational power and…
Mining is the important part of the blockchain used the proof of work (PoW) on its consensus, looking for the matching block through testing a number of hash calculations. In order to attract more hash computing power, the miner who finds…
Mining fairness in blockchain refers to equality between the computational resources invested in mining and the block rewards received. There exists a dilemma wherein increasing the transaction processing capacity of a blockchain…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
We propose DIPS Difficulty-based Incentives for Problem Solving), a simple modification of the Bitcoin proof-of-work algorithm that rewards blockchain miners for solving optimization problems of scientific interest. The result is a…
The Nakamoto consensus protocol underlying the Bitcoin blockchain uses proof of work as a voting mechanism. Honest miners who contribute hashing power towards securing the chain try to extend the longest chain they are aware of. Despite its…
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…
Blockchain is a novel technology that is rising a lot of interest in the industrial and re- search sectors because its properties of decentralisation, immutability and data integrity. Initially, the underlying consensus mechanism has been…
Proof-of-Work mining is intended to provide blockchains with robustness against double-spend attacks. However, an economic analysis that follows from Budish (2018), which considers free entry conditions together with the ability to rent…