Related papers: Larger-scale Nakamoto-style Blockchains Don't Nece…
A blockchain replaces central counterparties with time-consuming consensus protocols to record the transfer of ownership. This settlement latency slows cross-exchange trading, exposing arbitrageurs to price risk. Off-chain settlement,…
Blockchain is one of the most discussed and highly accepted technologies, primarily due to its application in almost every field where third parties are needed for trust. Blockchain technology relies on distributed consensus for trust,…
Blockchain is a type of decentralized distributed database. Unlike traditional relational database management systems, it does not require management or maintenance by a third party. All data management and update processes are open and…
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…
This research article presents various design patterns for improving interoperability in Polkadot, a blockchain platform. These patterns include chain bridges, interoperability standards, common asset identifiers, governance agreements,…
Blockchain systems run consensus rules as code to agree on the state of the distributed ledger and secure the network. Changing these rules can be risky and challenging. In addition, it can often be controversial and take much effort to…
Technological advancements of Blockchain and other Distributed Ledger Techniques (DLTs) promise to provide significant advantages to applications seeking transparency, redundancy, and accountability. Actual adoption of these emerging…
Blockchain is an incrementally updated ledger maintained by distributed nodes rather than centralized organizations. The current blockchain technology faces scalability issues, which include two aspects: low transaction throughput and high…
Proof of Stake (PoS) protocols rely on voting mechanisms to reach consensus on the current state. If an enhanced majority of staking nodes, also called validators, agree on a proposed block, then this block is appended to the blockchain.…
Blockchain promises to enhance distributed machine learning (ML) approaches such as federated learning (FL) by providing further decentralization, security, immutability, and trust, which are key properties for enabling collaborative…
Research in the field of blockchain technology and applications is increasing at a fast pace. Although the Bitcoin whitepaper by Nakamoto is already ten years old, the field can still be seen as immature and at an early stage. Current…
Permissioned Blockchains are increasingly considered in enterprise use-cases, many of which do not require geo-distribution, or even disallow it due to legislation. Examples include country-wide networks, such as Alastria, or those deployed…
Decentralization has been touted as the principal security advantage which propelled blockchain systems at the forefront of developments in the financial technology space. Its exact semantics nevertheless remain highly contested and…
The blockchain trilemma highlights the difficulty of simultaneously achieving a high degree of decentralization (DoD), scalability, and security in blockchain systems. While numerous constructs and metrics have been proposed to analyze…
Blockchains have block-size limits to ensure the entire cluster can keep up with the tip of the chain. These block-size limits are usually single-dimensional, but richer multidimensional constraints allow for greater throughput. The…
The growth potential of a crypto(currency) project can be measured by the use cases spurred by the underlying technology. However, these projects are usually distributed, with a weak feedback schemes. Hence, a metric that is widely used as…
The widespread adoption of blockchain technology has amplified the spectrum of potential threats to its integrity and security. The ongoing quest to exploit vulnerabilities emphasizes how critical it is to expand on current research…
One of the main issues in modern network science is the phenomenon of cascading failures of a small number of attacks. Here we define the dimension of a network to be the maximal number of functions or features of nodes of the network. It…
Bitcoin, as well as many of its successors, require the whole transaction record to be reliably acquired by all nodes to prevent double-spending. Recently, many blockchains have been proposed to achieve scale-out throughput by letting nodes…
Does the proof-of-work protocol serve its intended purpose of supporting decentralized cryptocurrency mining? To address this question, we develop a game-theoretical model where miners first invest in hardware to improve the efficiency of…