Related papers: Larger-scale Nakamoto-style Blockchains Don't Nece…
This paper investigates the fundamental trade-offs between block safety, confirmation latency, and transaction throughput of proof-of-work (PoW) longest-chain fork-choice protocols, also known as PoW Nakamoto consensus. New upper and lower…
Blockchain technology emerged with the advent of Bitcoin and rapidly developed over the past few decades, becoming widely accepted and known by the public. However, in the past decades, the massive adoption of blockchain technology has yet…
Existing blockchain systems scale poorly because of their distributed consensus protocols. Current attempts at improving blockchain scalability are limited to cryptocurrency. Scaling blockchain systems under general workloads (i.e.,…
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…
We calculate the probability of success of block-hiding mining strategies in Bitcoin-like networks. These strategies involve building a secret branch of the block-tree and publishing it opportunistically, aiming to replace the top of the…
Blockchain technology offers a decentralized and secure method for storing and authenticating data, rendering it well-suited for various applications such as digital currencies, supply chain management, and voting systems. However, the…
Fault-tolerant distributed systems move the trust in a single party to a majority of parties participating in the protocol. This makes blockchain based crypto-currencies possible: they allow parties to agree on a total order of transactions…
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…
The exponential growth of the blockchain size has become a major contributing factor that hinders the decentralisation of blockchain and its potential implementations in data-heavy applications. In this paper, we propose segment blockchain,…
The Nakamoto longest chain protocol is remarkably simple and has been proven to provide security against any adversary with less than 50% of the total hashing power. Proof-of-stake (PoS) protocols are an energy efficient alternative;…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…
In a Proof-of-Work blockchain such as Bitcoin mining hashrate is increasing in the block reward. An increase in hashrate reduces network vulnerability to attack (a reduction in security cost) while increasing carbon emissions and…
Blockchain, the technology behind the popular Bitcoin, is considered a "security by design" system as it is meant to create security among a group of distrustful parties yet without a central trusted authority. The security of blockchain…
Blokchain is a promising technology to enable distributed and reliable data sharing at the network edge. The high security in blockchain is undoubtedly a critical factor for the network to handle important data item. On the other hand,…
As an emerging service framework built by combining cryptography, P2P network, consensus mechanism and innovative contract technology, blockchain has been widely used in digital finance, data sharing, message traceability and electronic…
After the success of the Bitcoin blockchain, came several cryptocurrencies and blockchain solutions in the last decade. Nonetheless, Blockchain-based systems still suffer from low transaction rates and high transaction processing latencies,…
Proof-of-Work~(PoW) based blockchains typically allocate only a tiny fraction (e.g., less than 1% for Ethereum) of the average interarrival time~($\mathbb{I}$) between blocks for validating transactions. A trivial increase in validation…
Nakamoto consensus are the most widely adopted decentralized consensus mechanism in cryptocurrency systems. Since it was proposed in 2008, many studies have focused on analyzing its security. Most of them focus on maximizing the profit of…
Consensus protocols play a pivotal role to balance security and efficiency in blockchain systems. In this paper, we propose an evaluation framework for blockchain consensus protocols termed as AlphaBlock. In this framework, we compare the…
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…