Related papers: Proof of Team Sprint: A Collaborative Consensus Al…
Popular Ethereum wallets (like MetaMask) entrust centralized infrastructure providers (e.g., Infura) to run the consensus client logic on their behalf. As a result, these wallets are light-weight and high-performant, but come with security…
Consensus is one of the key problems in blockchains. There are many articles analyzing the performance of threat models for blockchains. But the network stability seems lack of attention, which in fact affects the blockchain performance.…
Ethereum 2.0, as the preeminent smart contract blockchain platform, guarantees the precise execution of applications without third-party intervention. At its core, this system leverages the Proof-of-Stake (PoS) consensus mechanism, which…
Potts model is a powerful tool to uncover community structure in complex networks. Here, we propose a new framework to reveal the optimal number of communities and stability of network structure by quantitatively analyzing the dynamics of…
We argue that the current POW based consensus algorithm of the Bitcoin network suffers from a fundamental economic discrepancy between the real world transaction (txn) costs incurred by miners and the wealth that is being transacted. Put…
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…
The security of most existing cryptocurrencies is based on a concept called Proof-of-Work, in which users must solve a computationally hard cryptopuzzle to authorize transactions (`one unit of computation, one vote'). This leads to enormous…
Following the publication of Bitcoin's arguably most famous attack, selfish mining, various works have introduced mechanisms to enhance blockchain systems' game theoretic resilience. Some reward mechanisms, like FruitChains, have been shown…
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…
Blockchain protocols differ in fundamental ways, including the mechanics of selecting users to produce blocks (e.g., proof-of-work vs. proof-of-stake) and the method to establish consensus (e.g., longest chain rules vs. Byzantine…
Bitcoin is the first secure decentralized electronic currency system. However, it is known to be inefficient due to its proof-of-work (PoW) consensus algorithm and has the potential hazard of double spending. In this paper, we aim to reduce…
Although Blockchain has been successfully used in many different fields and applications, it has been traditionally regarded as an energy-intensive technology, essentially due to the past use of inefficient consensus algorithms that…
The blockchain initially gained traction in 2008 as the technology underlying bitcoin, but now has been employed in a diverse range of applications and created a global market worth over $150B as of 2017. What distinguishes blockchains from…
Blockchain technology has become a trusted method for establishing secure and transparent transactions through a distributed, encrypted network. The operation of blockchain is governed by consensus algorithms, among which Proof of Stake…
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…
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 security and decentralization of Proof-of-Work (PoW) have been well-tested in existing blockchain systems. However, its tremendous energy waste has raised concerns about sustainability. Proof-of-Useful-Work (PoUW) aims to redirect the…
Most cryptocurrencies rely on Proof-of-Work (PoW) "mining" for resistance to Sybil and double-spending attacks, as well as a mechanism for currency issuance. Hashcash PoW has successfully secured the Bitcoin network since its inception,…
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…
Blockchain has been regarded as a promising technology for Internet of Things (IoT), since it provides significant solutions for decentralized network which can address trust and security concerns, high maintenance cost problem, etc. The…