Related papers: Payment Channels with Proofs
Proof-of-Work (PoW) is a fundamental underlying technology behind most major blockchain cryptocurrencies. It has been previously pointed out that quantum devices provide a computational advantage in performing PoW in the context of Bitcoin.…
We survey recent results on the mathematical stability of Bitcoin protocol. Profitability and probability of a double spend are estimated in closed form with classical special functions. The stability of Bitcoin mining rules is analyzed and…
We study decentralized cryptocurrency protocols in which the participants do not deplete physical scarce resources. Such protocols commonly rely on Proof of Stake, i.e., on mechanisms that extend voting power to the stakeholders of the…
Payment channel networks provide a fast and scalable solution to relay funds, acting as a second layer to slower and less scalable blockchain protocols. In this paper, we present an accessible, low-cost attack in which the attacker…
While being decentralized, secure, and reliable, Bitcoin and many other blockchain-based cryptocurrencies suffer from scalability issues. One of the promising proposals to address this problem is off-chain payment channels. Since, not all…
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, a decentralized cryptocurrency, has attracted a lot of attention from academia, financial service industry and enthusiasts. The trade-off between transaction confirmation throughput and centralization of hash power do not allow…
In the paper, we present designs for multiple blockchain consensus primitives and a novel blockchain system, all based on the use of trusted execution environments (TEEs), such as Intel SGX-enabled CPUs. First, we show how using TEEs for…
Bitcoin demonstrated the possibility of a financial ledger that operates without the need for a trusted central authority. However, concerns persist regarding its security and considerable energy consumption. We assess the consensus…
We study the probabilistic distribution of the confirmation time of Bitcoin transactions, conditional on the current memory pool (i.e., the queue of transactions awaiting confirmation). The results of this paper are particularly interesting…
Smart contracts are computer programs that can be consistently executed by a network of mutually distrusting nodes, without the arbitration of a trusted authority. Because of their resilience to tampering, smart contracts are appealing in…
At the heart of the Bitcoin is a blockchain protocol, a protocol for achieving consensus on a public ledger that records bitcoin transactions. To the extent that a blockchain protocol is used for applications such as contract signing and…
The Bitcoin P2P network is at the core of all communications between clients. The reachable part of this network has been explored and analyzed by numerous studies. Unreachable nodes, however, are, in most part, overlooked. Nonetheless,…
The application of Bitcoin enables people to understand blockchain technology gradually. Bitcoin is a decentralized currency that does not rely on third-party credit institutions, and the core of Bitcoin's underlying technology is…
Many blockchain systems today, including Bitcoin, rely on Proof of Work (PoW). Proof of work is crucial to the liveness and security of cryptocurrencies. The assumption when using PoW is that a lot of trial and error is required on average…
Blockchain technology is a breakthrough in changing the ways of business and organization operations, in which the consensus problem is challenging with practical constraints, such as computational power and consensus standard. In this…
We explore the feasibility of deploying Bitcoin as the shared monetary standard between Earth and Mars, accounting for physical constraints of interplanetary communication. We introduce a novel primitive, Proof-of-Transit Timestamping…
We study the strategic implications that arise from adding one extra option to the miners participating in the bitcoin protocol. We propose that when adding a block, miners also have the ability to pay forward an amount to be collected by…
This paper gives a detailed account of the relationship between (a variant of) the call-by-value lambda calculus and linear logic proof nets. The presentation is carefully tuned in order to realize a strong bisimulation between the two…
Proof-of-Stake blockchains based on a longest-chain consensus protocol are an attractive energy-friendly alternative to the Proof-of-Work paradigm. However, formal barriers to "getting the incentives right" were recently discovered, driven…