Related papers: Optimization-based Proof of Useful Work: Framework…
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…
In current blockchain systems, full nodes that perform all of the available functionalities need to store the entire blockchain. In addition to the blockchain, full nodes also store a blockchain-summary, called the \emph{state}, which is…
Blockchain (BC), the technology behind the Bitcoin crypto-currency system, is considered to be both alluring and critical for ensuring enhanced security and (in some implementations, non-traceable) privacy for diverse applications in many…
A proof of work (PoW) blockchain protocol distributes rewards to its participants, called miners, according to their share of the total computational power. Sufficiently large miners can perform selfish mining - deviate from the protocol to…
The Metaverse is rapidly evolving, bringing us closer to its imminent reality. However, the widespread adoption of this new automated technology poses significant research challenges in terms of authenticity, integrity, interoperability,…
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…
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…
Proof of work cryptocurrencies began with the promise of a more egalitarian future with a decentralized monetary system with no powerful entities in charge. While this vision is far from realized, these cryptocurrencies are still touted to…
PHICOIN (PHI) is a high-performance cryptocurrency based on the Proof-of-Work (PoW) mechanism. It aims to provide ordinary users with decentralized participation opportunities through an improved and innovative mining algorithm and fair…
As an emerging decentralized secure data management platform, blockchain has gained much popularity recently. To maintain a canonical state of blockchain data record, proof-of-work based consensus protocols provide the nodes, referred to as…
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 Proof of Efficient Liquidity (PoEL) protocol, designed for specialised Proof of Stake (PoS) consensus-based blockchains that incorporate intrinsic DeFi applications, aims to support sustainable liquidity bootstrapping and network…
We study efficiency in a proof-of-work blockchain with non-zero latencies, focusing in particular on the (inequality in) individual miners' efficiencies. Prior work attributed differences in miners' efficiencies mostly to attacks, but we…
We introduce Unity, a new consensus algorithm for public blockchain settings. Unity is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It encompasses hardware and…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
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…
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…
As smart contract platforms autonomously manage billions of dollars of capital, quantifying the portfolio risk that investors engender in these systems is increasingly important. Recent work illustrates that Proof of Stake (PoS) is…
Hyperdimensional Computing (HDC) is a promising bio-inspired learning paradigm for its advantage of balancing performance and efficiency and has been increasingly applied to the bio-medical domain. In bio-medical applications,…