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Payment channel networks are a highly discussed approach for improving scalability of cryptocurrencies such as Bitcoin. As they allow processing transactions off-chain, payment channel networks are referred to as second layer technology,…
Smart contracts - computer protocols that regulate the exchange of crypto-assets in trustless environments - have become popular with the spread of blockchain technologies. A landmark security property of smart contracts is liquidity: in a…
Blockchain protocols are inherently limited in transaction throughput and latency. Recent efforts to address performance and scale blockchains have focused on off-chain payment channels. While such channels can achieve low latency and high…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
Bitcoin is a popular digital currency for online payments, realized as a decentralized peer-to-peer electronic cash system. Bitcoin keeps a ledger of all transactions; the majority of the participants decides on the correct ledger. Since…
Bitcoin is the first successful decentralized global digital cash system. Its mining process requires intense computational resources, therefore its usefulness remains a disputable topic. We aim to solve three problems with Bitcoin and…
Testing of network services represents one of the biggest challenges in cyber security. Because new vulnerabilities are detected on a regular basis, more research is needed. These faults have their roots in the software development cycle or…
We revisit the fundamental question of Bitcoin's security against double spending attacks. While previous work has bounded the probability that a transaction is reversed, we show that no such guarantee can be effectively given if the…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
Blockchain technology has evolved through many changes and modifications, such as smart-contracts since its inception in 2008. The popularity of a blockchain system is due to the fact that it offers a significant security advantage over…
Blockchain systems and smart contracts provide ways to securely implement multi-party transactions without the use of trusted intermediaries, which currently underpin many commercial transactions. However, they do so by transferring trust…
Decentralized Ledger Technology, popularized by the Bitcoin network, aims to keep track of a ledger of valid transactions between agents of a virtual economy without a central institution for coordination. In order to keep track of a…
Payment channels allow transactions between participants of the blockchain to be executed securely off-chain, and thus provide a promising solution for the scalability problem of popular blockchains. We study the online network design…
In this paper bounded model checking of asynchronous concurrent systems is introduced as a promising application area for answer set programming. As the model of asynchronous systems a generalisation of communicating automata, 1-safe Petri…
Bitcoin blockchain faces the bitcoin scalability problem, for which bitcoin's blocks contain the transactions on the bitcoin network. The on-chain transaction processing capacity of the bitcoin network is limited by the average block…
As an emerging service framework built by combining cryptography, P2P network, consensus mechanism and innovative contract technology, blockchain has been widely used in digital finance, data sharing, message traceability and electronic…
Payment channel networks (PCNs) are a promising technology that alleviates blockchain scalability by shifting the transaction load from the blockchain to the PCN. Nevertheless, the network topology has to be carefully designed to maximise…
The Bitcoin Backbone Protocol [GKL15] is an abstraction of the bitcoin proof-of-work consensus protocol. We use a model-checking tool (UPPAALSMC) to examine the concrete security of proof-ofwork consensus by varying protocol parameters and…
Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…
Cryptocurrencies redefined how money can be stored and transferred among users. However, independent of the amount being sent, public blockchain-based cryptocurrencies suffer from high transaction waiting times and fees. These drawbacks…