Related papers: A Fully Local Last-Generated Rule in a Blockchain
Transaction throughput, confirmation latency and confirmation reliability are fundamental performance measures of any blockchain system in addition to its security. In a decentralized setting, these measures are limited by two underlying…
Threshold cryptography is essential for many blockchain protocols. For example, many protocols rely on threshold common coin to implement asynchronous consensus, leader elections, and provide support for randomized applications. Similarly,…
This paper investigates the stochastic behavior of an n-node blockchain which is continuously monitored and faces non-stop cyber attacks from multiple hackers. The blockchain will start being re-set once hacking is detected, forfeiting…
We formulate the design of a threshold signature scheme as made possible on cryptocurrency protocols like Bitcoin. The funds are secured by an m-of-n threshold signature, where at least m signatures are needed to unlock the funds. A user…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
As an emerging technology, blockchain has achieved great success in numerous application scenarios, from intelligent healthcare to smart cities. However, a long-standing bottleneck hindering its further development is the massive resource…
Bitcoin-NG, a scalable blockchain protocol, divides each block into a key block and many micro blocks to effectively improve the transaction processing capacity. Bitcoin-NG has a special incentive mechanism (i.e. splitting transaction fees…
In this paper we propose a double-linked blockchain data structure that greatly improves blockchain performance and guarantees single chain with no forks. Additionally, with the proposed proof-of-refundable-tax (PoRT) consensus algorithm,…
Modern blockchains guarantee that submitted transactions will be included eventually; a property formally known as liveness. But financial activity requires transactions to be included in a timely manner. Unfortunately, classical liveness…
Blockchains are distributed data structures that are used to achieve consensus in systems for cryptocurrencies (like Bitcoin) or smart contracts (like Ethereum). Although blockchains gained a lot of popularity recently, there is no…
This paper presents a stochastic model for block arrival times based on the difficulty retargeting rule used in Bitcoin, as well as other proof-of-work blockchains. Unlike some previous work, this paper explicitly models the difficulty…
It has been known for some time that the Nakamoto consensus as implemented in the Bitcoin protocol is not totally aligned with the individual interests of the participants. More precisely, it has been shown that block withholding mining…
Blockchains offer a decentralized and secure execution environment strong enough to host cryptocurrencies, but the state-replication model makes on-chain computation expensive. To avoid heavy on-chain workloads, systems like Truebit and…
Blockchain is a continuously developing technology that has made digital transactions and related computing operations more transparent and secure through globally distributed and decentralized management of states, as well as the strong…
This paper develops a model to evaluate the viability of blockchain markets as the sole venue for price formation. Blockchains clear at discrete intervals called block time, and transactions are executed sequentially according to priority…
In blockchains such as Bitcoin and Ethereum, transactions represent the primary mechanism that the external world can use to trigger a change of blockchain state. Transactions serve as key sources of evidence and play a vital role in…
Traditional Blockchain Sharding approaches can only tolerate up to n/3 of nodes being adversary because they rely on the hypergeometric distribution to make a failure (an adversary does not have n/3 of nodes globally but can manipulate the…
We investigate the instantaneous and limiting behavior of an n-node blockchain which is under continuous monitoring of the IT department of a company but faces non-stop cyber attacks from a single hacker. The blockchain is functional as far…
We study financial transaction confirmation finality in Bitcoin as a function of transaction amount and user risk tolerance. A transaction is recorded in a block on a blockchain. However, a transaction may be revoked due to a fork in the…
We improve the fundamental security threshold of eventual consensus Proof-of-Stake (PoS) blockchain protocols under the longest-chain rule by showing, for the first time, the positive effect of rounds with concurrent honest leaders. Current…