Related papers: Nakamoto Consensus from Multiple Resources
Public blockchains are decentralized networks where each participating node executes the same decision-making process. This form of decentralization does not scale well because the same data are stored on each network node, and because all…
In this paper, we explore vulnerabilities and countermeasures of the recently proposed blockchain consensus based on proof-of-authority. The proof-of-work blockchains, like Bitcoin and Ethereum, have been shown both theoretically and…
The blockchain system has emerged as one of the focal points of research in recent years, particularly in applications and services such as cryptocurrencies and smart contracts. In this context, the hash value serves as a crucial element in…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…
Permissioned blockchains employ Byzantine fault-tolerant (BFT) state machine replication (SMR) to reach agreement on an ever-growing, linearly ordered log of transactions. A new paradigm, combined with decades of research in BFT SMR and…
Mining blocks on a blockchain equipped with a proof of work consensus protocol is well-known to be resource-consuming. A miner bears the operational cost, mainly electricity consumption and IT gear, of mining, and is compensated by a…
The success of blockchain as the underlying technology for cryptocurrencies has opened up possibilities for its use in other application domains as well. The main advantages of blockchain for its potential use in other domains are its…
Proof-of-Work (PoW) consensus mechanism is popular among current blockchain systems, which leads to an increasing concern about the tremendous waste of energy due to massive meaningless computation. To address this issue, we propose a novel…
The blockchain trilemma highlights the difficulty of simultaneously achieving a high degree of decentralization (DoD), scalability, and security in blockchain systems. While numerous constructs and metrics have been proposed to analyze…
We study to what extent the Bitcoin blockchain security permanently depends on the underlying distribution of cryptocurrency market outcomes. We use daily blockchain and Bitcoin data for 2014-2019 and employ the ARDL approach. We test three…
Bitcoin is the first implementation of what has become known as a 'public permissionless' blockchain. Guaranteeing security and protocol conformity through its elegant combination of cryptographic assurances and game theoretic economic…
Designing an efficient difficulty control algorithm is an essential problem in Proof-of-Work (PoW) based blockchains because the network hash rate is randomly changing. This paper proposes a general difficulty control algorithm and provides…
In recent years, blockchain technology has received unparalleled attention from academia, industry, and governments all around the world. It is considered a technological breakthrough anticipated to disrupt several application domains. This…
Most current blockchains require all full nodes to execute all tasks limits the throughput of existing blockchains, which are well documented and among the most significant hurdles for the widespread adoption of decentralized technology.…
Blockchain technology offers a decentralized and secure method for storing and authenticating data, rendering it well-suited for various applications such as digital currencies, supply chain management, and voting systems. However, the…
Quantum blockchains provide inherent resilience against quantum adversaries and represent a promising alternative to classical blockchain systems in the quantum era. However, existing quantum blockchain architectures largely depend on…
Blockchain has received great attention in recent years and motivated innovations in different scenarios. However, many vital issues which affect its performance are still open. For example, it is widely convinced that high level of…
This paper presents a comprehensive refutation of the so-called "blockchain trilemma," a widely cited but formally ungrounded claim asserting an inherent trade-off between decentralisation, security, and scalability in blockchain protocols.…
The blockchain paradigm provides a mechanism for content dissemination and distributed consensus on Peer-to-Peer (P2P) networks. While this paradigm has been widely adopted in industry, it has not been carefully analyzed in terms of its…
Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners, but consumes huge amount of energy. Proof-of-Stake chains are energy-efficient, have fast finality and accountability, but…