Related papers: Bitcoin Staking
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…
Mining blocks in a blockchain using the \textit{Proof-of-Work} consensus protocol involves significant risk, as network participants face continuous operational costs while earning infrequent capital gains upon successfully mining a block.…
Blockchain systems based on a reusable resource, such as proof-of-stake (PoS), provide weaker security guarantees than those based on proof-of-work. Specifically, they are vulnerable to long-range attacks, where an adversary can corrupt…
In the proof-of-stake (PoS) paradigm for maintaining decentralized, permissionless cryptocurrencies, Sybil attacks are prevented by basing the distribution of roles in the protocol execution on the stake distribution recorded in the ledger…
Blockchain technology has been gaining great interest from a variety of sectors, including healthcare, supply chain and cryptocurrencies. However, Blockchain suffers from its limited ability to scale (i.e. low throughput and high latency).…
Blockchain stores information into a chain of "blocks", whose integrity is usually guaranteed by Proof of Work (PoW). In many blockchain applications (including cryptocurrencies), users compete with each other to win the ownership of the…
An important feature of Proof-of-Work (PoW) blockchains is full dynamic availability, allowing miners to go online and offline while requiring only 50% of the online miners to be honest. Existing Proof-of-stake (PoS), Proof-of-Space and…
While Proof-of-Work (PoW) is the most widely used consensus mechanism for blockchain, it received harsh criticism due to its massive waste of energy for meaningless hash calculation. Some studies have introduced Proof-of-Stake to address…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…
The blockchain data structure maintained via the longest-chain rule---popularized by Bitcoin---is a powerful algorithmic tool for consensus algorithms. Such algorithms achieve consistency for blocks in the chain as a function of their depth…
Proof-of-stake blockchain protocols have emerged as a compelling paradigm for organizing distributed ledger systems. In proof-of-stake (PoS), a subset of stakeholders participate in validating a growing ledger of transactions. For the…
Proof-of-Stake (PoS) blockchain systems, especially those that allow stakeholders to organize themselves in ``stake-pools'', have emerged as a compelling paradigm for the deployment of large scale distributed ledgers. A stake-pool operates…
A key component of security in decentralized blockchains is proof of opportunity cost among block producers. In the case of proof-of-work (PoW), currently used by the most prominent systems, the cost is due to spent computation. In this…
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…
Bitcoin's Proof of Work (PoW) mechanism, while central to achieving decentralized consensus, has long been criticized for excessive energy use and hardware inefficiencies \cite{devries2018bitcoin, truby2018decarbonizing}. This paper…
With the increasing adoption of decentralized information systems based on a variety of permissionless blockchain networks, the choice of consensus mechanism is at the core of many controversial discussions. Ethereum's recent transition…
We introduce Bitcoin-IPC, a software stack and protocol that scales Bitcoin towards helping it become the universal Medium of Exchange (MoE) by enabling the permissionless creation of fully programmable Proof-of-Stake (PoS) Layer-2 chains,…
Blockchain technology enables secure, transparent data management in decentralized systems, supporting applications from cryptocurrencies like Bitcoin to tokenizing real-world assets like property. Its scalability and sustainability hinge…
PAI Coin's Proof-of-Work (PoW) consensus mechanism utilizes the double SHA-256 hashing protocol-- the same mechanism used by Bitcoin Core. This compatibility with classic Bitcoin-style mining provides low barrier to entry for PAI Coin…
Bitcoin blockchain uses hash-based Proof-of-Work (PoW) that prevents unwanted participants from hogging the network resources. Anyone entering the mining game has to prove that they have expended a specific amount of computational power.…