Related papers: Fully-Fluctuating Participation in Sleepy Consensu…
This paper is concerned with the stability of shares in a cryptocurrency where the new coins are issued according to the Proof of Stake protocol. We identify large, medium and small investors under various rewarding schemes, and show that…
Most online lotteries today fail to ensure the verifiability of the random process and rely on a trusted third party. This issue has received little attention since the emergence of distributed protocols like Bitcoin that demonstrated the…
The present paper introduces a practical protocol for provably secure, outsourced computation. Our protocol minimizes overhead for verification by requiring solutions to withstand an interactive game between a prover and challenger. For…
The purpose of a consensus protocol is to keep a distributed network of nodes "in sync," even in the presence of an unpredictable communication network and adversarial behavior by some of the participating nodes. In the permissionless…
Population protocols model information spreading and computation in network systems where pairwise node exchanges are determined by an external random scheduler and nodes have small memory. Most of the population protocols in the literature…
In most popular public accessible cryptocurrency systems, the mining pool plays a key role because mining cryptocurrency with the mining pool turns the non-profitable situation into profitable for individual miners. In many recent novel…
Blockchains combine other technologies, such as cryptography, networking, and incentive mechanisms, to enable the creation, validation, and recording of transactions between participating nodes. A consensus algorithm is used in a blockchain…
Bitcoin mining presents a significant economic incentive for efficient hashing and broadcast of data, both parameters stemming from the Proofs of Work used to advance the network. This incentive has led to the development of Bitcoin…
In recent years, cryptocurrencies have attracted growing attention from both private investors and institutions. Among them, Bitcoin stands out for its impressive volatility and widespread influence. This paper explores the predictability…
The consensus protocol is the core of a blockchain system which guarantees its secure and stable operation. Proof of Activity (PoA) is a consensus protocol that tries to address some of the issues pertinent to the most widely used…
Blockchain has become a popular decentralized paradigm for various applications in the zero-trust environment. The core of the blockchain is the consensus protocol, which establishes consensus among all the participants. PoW (Proof-of-Work)…
We study fault-tolerant consensus in a variant of the synchronous message passing model, where, in each round, every node can choose to be awake or asleep. This is known as the sleeping model (Chatterjee, Gmyr, Pandurangan PODC 2020) and…
Consensus is one of the most fundamental distributed computing problems. In particular, it serves as a building block in many replication based fault-tolerant systems and in particular in multiple recent blockchain solutions. Depending on…
Major cryptocurrency networks have relied on random peering choice rules for making connections in their peer-to-peer networks. Generally, these choices have good properties, particularly for open, permissionless networks. Random peering…
Mining in proof-of-work blockchains has become an expensive affair requiring specialized hardware capable of executing several megahashes per second at huge electricity costs. Miners earn a reward each time they mine a block within the…
We study the computation contests where players compete for searching a solution to a given problem with a winner-take-all reward. The search processes are independent across the players and the search speeds of players are proportional to…
The Bitcoin system only provides eventual consistency. For everyday life, the time to confirm a Bitcoin transaction is prohibitively slow. In this paper we propose a new system, built on the Bitcoin blockchain, which enables strong…
Bitcoin is a decentralized, pseudonymous cryptocurrency that is one of the most used digital assets to date. Its unregulated nature and inherent anonymity of users have led to a dramatic increase in its use for illicit activities. This…
The idea of security sharing goes back to Nakamoto's introduction of merge mining, a technique that enables Bitcoin miners to reuse their hash power to bootstrap and secure other Proof-of-Work (PoW) blockchains. However, with the rise of…
Blockchain plays a crucial role in ensuring the security and integrity of decentralized systems, with the proof-of-work (PoW) mechanism being fundamental for achieving distributed consensus. As PoW blockchains see broader adoption, an…