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The property of proportional representation in approval-based committee elections has appeared in the social choice literature for over a century, and is typically understood as avoiding the underrepresentation of minorities. However, we…
Situations where a group of agents come together to jointly buy a resource that they individually cannot afford to buy are commonly observed in markets. For example in the US market for radio spectrum, a recent proposal invited small firms…
Mining processes of Bitcoin and similar cryptocurrencies are currently incentivized with voluntary transaction fees and fixed block rewards which will halve gradually to zero. In the setting where optional and arbitrary transaction fee…
Selfish Mining is strategic rule-breaking to maximize rewards in proof-of-work protocols [3] and Markov Decision Processes (MDPs) are the preferred tool for finding optimal strategies in Bitcoin [4, 10] and similar linear chain protocols…
A blockchain is a decentralized ledger where all transactions are recorded. For having a reliable blockchain and double-spending prevention, we need a decentralized consensus and agreement on a blockchain. Bitcoin uses proof-of-work (PoW).…
Blockchains are widely used for secure transaction processing, but their scalability remains limited, and existing multichain designs are typically static even as demand and capacity shift. We cast blockchain configuration as a multiagent…
Digital money can be implemented efficiently by avoiding consensus. However, no-consensus implementations have drawbacks, as they cannot support smart contracts, and (even more fundamentally) they cannot deal with conflicting transactions.…
Lately, Non-Fungible Tokens (NFTs), i.e., uniquely discernible assets on a blockchain, have skyrocketed in popularity by addressing a broad audience. However, the typical NFT auctioning procedures are conducted in various, ad hoc ways,…
Consensus plays a crucial role in distributed ledger systems, impacting both scalability and decentralization. Many blockchain systems use a weighted lottery based on a scarce resource such as a stake, storage, memory, or computing power to…
Demand for blockchains such as Bitcoin and Ethereum is far larger than supply, necessitating a mechanism that selects a subset of transactions to include "on-chain" from the pool of all pending transactions. This paper investigates the…
Maximum extractable value (MEV) has been extensively studied. In most papers, the researchers have worked with the Ethereum blockchain almost exclusively. Even though, Ethereum and other blockchains have dynamic gas prices this is not the…
Sequential auctions for identical items with unit-demand, private-value buyers are common and often occur periodically without end, as new bidders replace departing ones. We model bidder uncertainty by introducing a probability that a…
The choice of the consensus method ultimately determines throughput, scalability, tamper resistance, and consistency of a blockchain system. However, across all the types of blockchain (private, semi-private, consortium, or public), there…
Blockchain is a novel technology that is rising a lot of interest in the industrial and re- search sectors because its properties of decentralisation, immutability and data integrity. Initially, the underlying consensus mechanism has been…
The detection of Maximal Extractable Value (MEV) in blockchain is crucial for enhancing blockchain security, as it enables the evaluation of potential consensus layer risks, the effectiveness of anti-centralization solutions, and the…
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 proof-of-work consensus protocol suffers from two main limitations: waste of energy and offering only probabilistic guarantees about the status of the blockchain. This paper introduces SklCoin, a new Byzantine consensus protocol and its…
In peer-to-peer (P2P) energy trading, a secured infrastructure is required to manage trade and record monetary transactions. A central server/authority can be used for this. But there is a risk of central authority influencing the energy…
In recent years, the blockchain-based Internet of Things (IoT) has been researched and applied widely, where each IoT device can act as a node in the blockchain. However, these lightweight nodes usually do not have enough computing power to…
Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms…