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The registration, transfer, clearing and settlement of equities represents a significant part of economic activity currently underserved by modern technological innovation. In addition, recent events have revealed problems of transparency,…
In the paper, we present designs for multiple blockchain consensus primitives and a novel blockchain system, all based on the use of trusted execution environments (TEEs), such as Intel SGX-enabled CPUs. First, we show how using TEEs for…
Sharding is used to improve the scalability and performance of blockchain systems. We investigate the stability of blockchain sharding, where transactions are continuously generated by an adversarial model. The system consists of $n$…
A central challenge in blockchain tokenomics is aligning short-term performance incentives with long-term decentralization goals. We propose a framework for algorithmic monetary policies that navigates this tradeoff in repeated…
Blockchain-based consensus protocols present the opportunity to develop new protocols, due to their novel requirements of open participation and explicit incentivization of participants. To address the first requirement, it is necessary to…
Spectrum sharing has long been considered as method to improve spectrum resource utilization. Centralized geolocation database approach has been accepted globally for commercial applications. Recently blockchain has been considered as a…
An emerging blockchain protocol design pattern leverages the asymmetry between the computational effort in performing versus verifying tasks. For example, cryptographic validity proofs (e.g., SNARKS) require the prover to expend significant…
We propose a smart contract that allows two mutually distrusting parties to transact any non-digital good or service by deploying a smart contract on a blockchain to act as escrow. The contract settles disputes by letting parties wager that…
In open Federated Learning (FL) environments where no central authority exists, ensuring collaboration fairness relies on decentralized reward settlement, yet the prohibitive cost of permissionless blockchains directly clashes with the…
Cryptocurrencies are poised to revolutionize the modern economy by democratizing commerce. These currencies operate on top of blockchain-based distributed ledgers. Existing permissionless blockchain-based protocols offer unparalleled…
As the significance of blockchain innovation grows and the focus on scalability intensifies, rollup technology has emerged as a promising approach to tackle these scalability concerns. Nonetheless, rollups encounter restrictions when…
Proof-of-Stake systems randomly choose, on each round, one of the participants as a consensus leader that extends the chain with the next block such that the selection probability is proportional to the owned stake. However, distributed…
To address the large amount of energy wasted by blockchains, we propose a decentralized consensus protocol for blockchains in which the computation can be used to search for good approximate solutions to any optimization problem. Our…
We study game-theoretic models for capturing participation in blockchain systems. Permissionless blockchains can be naturally viewed as games, where a set of potentially interested users is faced with the dilemma of whether to engage with…
The perpetual growth of data stored on popular blockchains such as Ethereum leads to significant scalability challenges and substantial storage costs for operators of full nodes. Increasing costs may lead to fewer independently operated…
Blockchain protocols often seek to procure computationally challenging work from a decentralized set of participants. While there are simple procurement auctions that result in the minimal cost of acquisition and maximal efficiency, they…
In the high-stakes race to develop more scalable blockchains, some platforms (Binance, Cosmos, EOS, TRON, etc.) have adopted committee-based consensus (CBC) protocols, whereby the blockchain's record-keeping rights are entrusted to a…
Peer-to-peer (p2p) networks are not independent of their peers, and the network efficiency depends on peers contributing resources. Because shared resources are not free, this contribution must be rewarded. Peers across the network may…
Layer 1 (L1) blockchains such as Ethereum are secured under an "honest supermajority of stake" assumption for a large pool of validators who verify each and every transaction on it. This high security comes at a scalability cost which not…
One of the most innovative aspects of blockchain technology consists in the introduction of an incentive layer to regulate the behavior of distributed protocols. The designer of a blockchain system faces therefore issues that are akin to…