Related papers: Balancing incentives in committee-based blockchain…
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…
Financial fraud cases are on the rise even with the current technological advancements. Due to the lack of inter-organization synergy and because of privacy concerns, authentic financial transaction data is rarely available. On the other…
Blockchain games introduce unique gameplay and incentive mechanisms by allowing players to be rewarded with in-game assets or tokens through financial activities. However, most blockchain games are not comparable to traditional games in…
In this paper, we systematically explore the attack surface of the Blockchain technology, with an emphasis on public Blockchains. Towards this goal, we attribute attack viability in the attack surface to 1) the Blockchain cryptographic…
The advent of decentralized trading markets introduces a number of new challenges for consensus protocols. In addition to the `usual' attacks -- a subset of the validators trying to prevent disagreement -- there is now the possibility of…
We introduce and study reward sharing schemes (RSS) that promote the fair formation of {\em stake pools}\ in collaborative projects that involve a large number of stakeholders such as the maintenance of a proof-of-stake (PoS) blockchain.…
Strategies related to the blockchain concept of Extractable Value (MEV/BEV), such as arbitrage, front-, or back-running create strong economic incentives for network nodes to reduce latency. Modified nodes, that minimize transaction…
Understanding the strategic behavior of miners in a blockchain is of great importance for its proper operation. A common model for mining games considers an infinite time horizon, with players optimizing asymptotic average objectives.…
This paper presents a novel adversary model specifically tailored to distributed systems, aiming to assess the security of blockchain networks. Building upon concepts such as adversarial assumptions, goals, and capabilities, our proposed…
All public blockchains are secured by a proof of opportunity cost among block producers. For example, the security offered by proof-of-work (PoW) systems, like Bitcoin, is due to spent computation; it is work precisely because it cannot be…
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…
Blockchain technology is widely used in various fields due to its ability to provide decentralization and trustless security. This is a fundamental understanding held by many advocates, but it is misunderstood, leading participants to fail…
To participate in the distributed consensus of permissionless blockchains, prospective nodes -- or miners -- provide proof of designated, costly resources. However, in contrast to the intended decentralization, current data on blockchain…
Several attacks have been proposed against Proof-of-Work blockchains, which may increase the attacker's share of mining rewards (e.g., selfish mining, block withholding). A further impact of such attacks, which has not been considered in…
Blockchains enables tamper-proof, ordered logging for transactional data in a decentralized manner over open-access, overlay peer-to-peer networks. In this paper, we propose a decentralized framework of proactive caching in a hierarchical…
We model and analyze blockchain miners who seek to maximize the compound return of their mining businesses. The analysis of the optimal strategies finds a new equilibrium point among the miners and the mining pools, which predicts the…
We propose \textit{OpenAlpha}, a community-led strategy validation framework for decentralised capital management on a host blockchain network, which integrates game-theoretic validation, adversarial auditing, and market-based belief…
Mining is the important part of the blockchain used the proof of work (PoW) on its consensus, looking for the matching block through testing a number of hash calculations. In order to attract more hash computing power, the miner who finds…
Proof-of-stake (PoS) is a promising approach for designing efficient blockchains, where block proposers are randomly chosen with probability proportional to their stake. A primary concern with PoS systems is the "rich getting richer"…
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…