Related papers: Model-Based Calculation Method of Mining Fairness …
This work applies reinforcement learning (RL) from the AI machine learning field to derive an optimal Bitcoin-like blockchain mining strategy without knowing the details of the blockchain network model. Previously, the most profitable…
Machine learning has recently enabled large advances in artificial intelligence, but these results can be highly centralized. The large datasets required are generally proprietary; predictions are often sold on a per-query basis; and…
While cryptocurrencies and blockchain applications continue to gain popularity, their energy cost is evidently becoming unsustainable. In most instances, the main cost comes from the required amount of energy for the Proof-of-Work, and this…
Decentralization has been widely acknowledged as a core virtue of blockchains. However, in the past, there have been few measurement studies on measuring and comparing the actual level of decentralization between existing blockchains using…
Many protocols in distributed computing rely on a source of randomness, usually called a random beacon, both for their applicability and security. This is especially true for proof-of-stake blockchain protocols in which the next miner or…
In the context of Multi-access Edge Computing (MEC), the task sharing mechanism among edge servers is an activity of vital importance for speeding up the computing process and thereby improve user experience. The distributed resources in…
The distribution of consensus power is a cornerstone of decentralisation, influencing the security, resilience, and fairness of blockchain networks while ensuring equitable impact among participants. This study provides a rigorous…
Blockchain is relatively a new area of research. However, a surge of research studies on the blockchain has taken place in recent years. These research studies have mostly focused on designing and developing conceptual frameworks to build…
In this paper, we present a pricing mechanism that aligns incentives of agents who exchange resources on a decentralized ledger with the goal of maximizing transaction throughput. Subdividing a blockchain ledger into shards promises to…
Blockchain technology relies on decentralization to resist faults and attacks while operating without trusted intermediaries. Although industry experts have touted decentralization as central to their promise and disruptive potential, it is…
Recent years have witnessed an increasing interest in the blockchain technology, and many blockchain-based applications have been developed to take advantage of its decentralization, transparency, fault tolerance, and strong security. In…
Blockchain is gaining extensive attention due to its provision of secure and decentralized resource sharing manner. However, the incumbent blockchain systems also suffer from a number of challenges in operational maintenance, quality…
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…
Blockchains rely on economic incentives to ensure secure and decentralised operation, making incentive compatibility a core design concern. However, protocols are rarely deployed in isolation. Applications interact with the underlying…
The recently proposed Transaction Fee Mechanism (TFM) literature studies the strategic interaction between the miner of a block and the transaction creators (or users) in a blockchain. In a TFM, the miner includes transactions that maximize…
Fairness is an important trait of open, free markets. Ethereum is a platform meant to enable digital, decentralized markets. Though many researchers debate the market's fairness, there are few discussions around the fairness of automated…
We study the strategic considerations of miners participating in the bitcoin's protocol. We formulate and study the stochastic game that underlies these strategic considerations. The miners collectively build a tree of blocks, and they are…
Game theory is often used as a tool to analyze decentralized systems and their properties, in particular, blockchains. In this note, we take the opposite view. We argue that blockchains can and should be used to implement economic…
Blockchain is increasingly offered as blockchain-as-a-service (BaaS) by cloud service providers. However, configuring BaaS appropriately for optimal performance and reliability resorts to try-and-error. A key challenge is that BaaS is often…
The energy sustainability of blockchains, whose consensus protocol rests on the Proof-of-Work, nourishes a heated debate. The underlying issue lies in a highly energy-consuming process, defined as mining, required to validate crypto-asset…