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We review probabilistic models known as majority dynamics (also known as threshold Voter Models) and discuss their possible applications for achieving consensus in cryptocurrency systems. In particular, we show that using this approach…
We analyze Bitcoin mining from the perspective of a game and propose an optimal mining model that maximizes profits of pools and miners. The model is a two-stage Stackelberg game in which each stage forms a sub-game. In stage I, pools are…
The consensus protocol is a critical component of distributed ledgers and blockchains. Achieving consensus over a decentralized network poses challenges to transaction finality and performance. Currently, the highest-performing consensus…
Multi-party data management and blockchain systems require data sharing among participants. To provide resilient and consistent data sharing, transactions engines rely on Byzantine FaultTolerant consensus (BFT), which enables operations…
Classical and contemporary distributed consensus protocols, may they be for binary agreement, state machine replication, or blockchain consensus, require all protocol participants in a peer-to-peer system to agree on exactly the same…
Though voting-based consensus algorithms in Blockchain outperform proof-based ones in energy- and transaction-efficiency, they are prone to incur wrong elections and bribery elections. The former originates from the uncertainties of…
The Bitcoin protocol prescribes certain behavior by the miners who are responsible for maintaining and extending the underlying blockchain; in particular, miners who successfully solve a puzzle, and hence can extend the chain by a block,…
Consensus is one of the key problems in blockchains. There are many articles analyzing the performance of threat models for blockchains. But the network stability seems lack of attention, which in fact affects the blockchain performance.…
Proof of work cryptocurrencies began with the promise of a more egalitarian future with a decentralized monetary system with no powerful entities in charge. While this vision is far from realized, these cryptocurrencies are still touted to…
Safety and liveness are the two classical security properties of consensus protocols. Recent works have strengthened safety with accountability: should any safety violation occur, a sizable fraction of adversary nodes can be proven to be…
We study a robust, i.e. in presence of malicious participants, multi-agent multi-armed bandit problem where multiple participants are distributed on a fully decentralized blockchain, with the possibility of some being malicious. The rewards…
Mining pools, the main components of the Bitcoin network, dominate the computing resources and play essential roles in network security and performance aspects. Although many existing measurements of the Bitcoin network are available,…
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…
This study evaluates the robustness of Proof of Team Sprint (PoTS) against adversarial attacks through simulations, focusing on the attacker win rate and computational efficiency under varying team sizes (\( N \)) and attacker ratios (\(…
Cooperation is fundamental for human prosperity. Blockchain, as a trust machine, is a cooperative institution in cyberspace that supports cooperation through distributed trust with consensus protocols. While studies in computer science…
The Ripple network is one of the most prominent blockchain platforms and its native XRP token currently has one of the highest cryptocurrency market capitalizations. The Ripple consensus protocol powers this network and is generally…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
In this paper we present an open source, fully asynchronous, leaderless algorithm for reaching consensus in the presence of Byzantine faults in an asynchronous network. We prove the algorithm's correctness provided that less than a third of…
Regardless of their variations, blockchains require a consensus mechanism to validate transactions, supervise added blocks, maintain network security, synchronize the network state, and distribute incentives. Proof-of-Work (PoW), one of the…
The classic Fischer, Lynch, and Paterson impossibility proof demonstrates that any deterministic protocol for consensus in either a message-passing or shared-memory system must violate at least one of termination, validity, or agreement in…