Related papers: Bitcoin Staking
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 present IPchain, a blockchain to store the allocations and delegations of IP addresses, with the aim of easing the deployment of secure interdomain routing systems. Interdomain routing security is of vital importance to the Internet…
A promising way to overcome the scalability limitations of the current blockchain is to use sharding, which is to split the transaction processing among multiple, smaller groups of nodes. A well-performed blockchain sharding system requires…
NeuCoin is a decentralized peer-to-peer cryptocurrency derived from Sunny King's Peercoin, which itself was derived from Satoshi Nakamoto's Bitcoin. As with Peercoin, proof-of-stake replaces proof-of-work as NeuCoin's security model,…
Consensus protocols used today in blockchains often rely on computational power or financial stakes - scarce resources. We propose a novel protocol using social capital - trust and influence from social interactions - as a non-transferable…
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…
The BIX protocol is a blockchain-based protocol that allows distribution of certificates linking a subject with his public key, hence providing a service similar to that of a PKI but without the need of a CA. In this paper we analyze the…
In this review, we evaluate the mechanisms behind the decentralized finance protocols for generating stable, passive income. Currently, such savings interest rates can be as high as 20% annually, payable in traditional currency values such…
Due to its minimal energy requirement the PoS consensus protocol has become an attractive alternative to PoW in modern cryptocurrencies. In this protocol the chance of being selected as a block proposer in each round is proportional to the…
The paper examines decentralized cryptocurrency protocols that are based on the use of internal tokens as identity tools. An analysis of security problems with popular Proof-of-stake consensus protocols is provided. A new protocol,…
Distributed ledger technology has gained wide popularity and adoption since the emergence of bitcoin in 2008 which is based on proof of work (PoW). It is a distributed, transparent and immutable database of records of all the transactions…
Hash-based Proof-of-Work (PoW) used in the Bitcoin Blockchain leads to high energy consumption and resource wastage. In this paper, we aim to re-purpose the energy by replacing the hash function with real-life problems having commercial…
Blockchain systems face persistent challenges of scalability, latency, and energy inefficiency. Existing consensus protocols such as Proof-of-Work (PoW) and Proof-of-Stake (PoS) either consume excessive resources or risk centralization.…
Despite the tremendous interest in cryptocurrencies like Bitcoin and Ethereum today, many aspects of the underlying consensus protocols are poorly understood. Therefore, the search for protocols that improve either throughput or security…
Bitcoin is the world's first decentralized digital currency. Its main technical innovation is the use of a blockchain and hash-based proof of work to synchronize transactions and prevent double-spending the currency. While the qualitative…
Proof-of-Work (PoW) is the most widely adopted incentive model in current blockchain systems, which unfortunately is energy inefficient. Proof-of-Stake (PoS) is then proposed to tackle the energy issue. The rich-get-richer concern of PoS…
Most concurrent blockchain systems rely heavily on the Proof-of-Work (PoW) or Proof-of-Stake (PoS) mechanisms for decentralized consensus and security assurance. However, the substantial energy expenditure stemming from computationally…
A soft control of the network activity through varying reward in a proof-of-work (PoW) cryptocurrency is reported. Rewards are the necessity to incent the contributors activities (i.e., mining) in order to maintain the PoW network. Contrary…
The value of proof-of-work cryptocurrencies critically depends on miners having incentives to follow the protocol. However, the Bitcoin mining protocol proposed by Nakamoto (2008) and implemented in practice is well known not to constitute…
Cryptocurrency achieves distributed consensus using proof of work (PoW). Prior research in blockchain security identified financially incentivized attacks based on withholding blocks which have the attacker compromise a victim pool and pose…