Related papers: Optimization-based Proof of Useful Work: Framework…
Decentralized systems built around blockchain technology promise clients an immutable ledger. They add a transaction to the ledger after it undergoes consensus among the replicas that run a Proof-of-Stake (PoS) or Byzantine Fault-Tolerant…
Blockchain protocols implement total-order broadcast in a permissionless setting, where processes can freely join and leave. In such a setting, to safeguard against Sybil attacks, correct processes rely on cryptographic proofs tied to a…
Validators on generic Proof of Stake chains earn the same fees whether they handle attestation work correctly or selectively censor it. For chains whose main activity is moving tokens around, that indifference is fine. For chains whose…
We propose a blockchain architecture in which mining requires a quantum computer. The consensus mechanism is based on proof of quantum work, a quantum-enhanced alternative to traditional proof of work that leverages quantum supremacy to…
The blockchain system has emerged as one of the focal points of research in recent years, particularly in applications and services such as cryptocurrencies and smart contracts. In this context, the hash value serves as a crucial element in…
A new variation of blockchain proof of work algorithm is proposed to incentivize the timely execution of image processing algorithms. A sample image processing algorithm is proposed to determine interesting images using analysis of the…
Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners. Proof-of-Stake chains are energy-efficient, have fast finality but face several security issues: susceptibility to…
We study the applicability of blockchain technology for distributed event detection under resource constraints. Therefore we provide a test-suite with several promising consensus methods (Proof-of-Work, Proof-of-Stake, Distributed…
In the area of blockchain, numerous methods have been proposed for suppressing intentional forks by attackers more effectively than the random rule. However, all of them, except for the random rule, require major updates, rely on a trusted…
Layer 1 (L1) blockchains such as Ethereum are secured under an "honest supermajority of stake" assumption for a large pool of validators who verify each and every transaction on it. This high security comes at a scalability cost which not…
The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof of Work. Here, we point out an…
We develop a continuous-time control approach to optimal trading in a Proof-of-Stake (PoS) blockchain, formulated as a consumption-investment problem that aims to strike the optimal balance between a participant's (or agent's) utility from…
Proof of Authority (PoA) is a type of permissioned consensus algorithm with a fixed committee. PoA has been widely adopted by communities and industries due to its better performance and faster finality. In this paper, we explore the…
Proof-of-stake blockchain protocols are becoming one of the most promising alternatives to the energy-consuming proof-of-work protocols. However, one particularly critical threat in the PoS setting is the well-known long-range attacks…
One of the most important features of blockchain protocols is decentralization, as their main contribution is that they formulate a distributed ledger that will be maintained and extended without the need of a trusted party. Bitcoin has…
With the increasing adoption of the Proof of Stake (PoS) blockchain, it is timely to study the economy created by such blockchain. In this chapter, we will survey recent progress on the trading and wealth evolution in a cryptocurrency where…
Consensus mechanism is the core technology for blockchain to ensure that transactions are executed in sequence. It also determines the decentralization, security, and efficiency of blockchain. Existing mechanisms all have certain…
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 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…
Today's world is organized based on merit and value. A single global currency that's decentralized is needed for a global economy. Bitcoin is a partial solution to this need, however it suffers from scalability problems which prevent it…