Related papers: ScaloWork: Useful Proof-of-Work with Distributed P…
The core of many cryptocurrencies is the decentralised validation network operating on proof-of-work technology. In these systems, validation is done by so-called miners who can digitally sign blocks once they solve a computationally-hard…
An open distributed system can be secured by requiring participants to present proof of work and rewarding them for participation. The Bitcoin digital currency introduced this mechanism, which is adopted by almost all contemporary digital…
Blockchain has attracted much attention from both academia and industry since emerging in 2008. Due to the inconvenience of the deployment of large-scale blockchains, blockchain simulators are used to facilitate blockchain design and…
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…
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…
Proof-of-work(PoW) is an algorithmic tool used to secure networks by imposing a computational cost on participating devices. Unfortunately, traditional PoW schemes require that correct devices perform significant computational work in…
The Philos Marketplace blockchain system is a proposed hierarchical blockchain architecture which allows a large number of individual blockchains to operate in parallel. These parallel chains achieve consensus among one another on a limited…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
In the field of energy Internet, blockchain-based distributed energy trading mode is a promising way to replace the traditional centralized trading mode. However, the current power blockchain platform based on public chain has problems such…
Proof-of-stake (PoS) has emerged as a natural alternative to the resource-intensive Proof-of-Work (PoW) blockchain, as was recently seen with the Ethereum Merge. PoS-based blockchains require an initial stake distribution among the…
In a Proof-of-Work blockchain such as Bitcoin mining hashrate is increasing in the block reward. An increase in hashrate reduces network vulnerability to attack (a reduction in security cost) while increasing carbon emissions and…
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…
A new variation of blockchain proof of work algorithm is proposed to incentivize the timely execution of image processing algorithms. A sample image processing algorithm is proposed to determine interesting images using analysis of the…
Proof-of-Stake blockchains based on a longest-chain consensus protocol are an attractive energy-friendly alternative to the Proof-of-Work paradigm. However, formal barriers to "getting the incentives right" were recently discovered, driven…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
EOSIO has become one of the most popular blockchain platforms since its mainnet launch in June 2018. In contrast to the traditional PoW-based systems (e.g., Bitcoin and Ethereum), which are limited by low throughput, EOSIO is the first high…
The sharing economy is centralizing services, leading to misuses of the Internet. We can list growing damages of data hacks, global outages and even the use of data to manipulate their owners. Unfortunately, there is no decentralized web…
There is a growing interest in understanding the energy and environmental footprint of digital currencies, specifically in cryptocurrencies such as Bitcoin and Ethereum. These cryptocurrencies are operated by a geographically distributed…
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…
This paper presents an empirical analysis of Steemit, a key representative of the emerging incentivized social media platforms over Blockchains, to understand and evaluate the actual level of decentralization and the practical effects of…