Related papers: Kardashev scale Quantum Computing for Bitcoin Mini…
The popularity of digital currencies, especially cryptocurrencies, has been continuously growing since the appearance of Bitcoin. Bitcoin's security lies in a proof-of-work scheme, which requires high computational resources at the miners.…
Blockchain like Bitcoin and Ethereum suffer from scalability issues. Sharding is one of the most promising and leading solutions to scale blockchain. The basic idea behind sharding is to divide the blockchain network into multiple…
A blockchain, such as Bitcoin, is an append-only, secure, transparent, distributed ledger. A fair blockchain is expected to have healthy metrics; high honest mining power, low processing latency, i.e., low wait times for transactions and…
The world-changing blockchain technique provides a novel method to establish a secure, trusted and decentralized system for solving the security and personal privacy problems in Industrial Internet of Things (IIoT) applications. The mining…
Quantum computers, that may become available one day, would impact many scientific fields, most notably cryptography since many asymmetric primitives are insecure against an adversary with quantum capabilities. Cryptographers are already…
Mining fairness in blockchain refers to equality between the computational resources invested in mining and the block rewards received. There exists a dilemma wherein increasing the transaction processing capacity of a blockchain…
The Lightning Network promises to alleviate Bitcoin's known scalability problems. The operation of such second layer approaches relies on the ability of participants to turn to the blockchain to claim funds at any time, which is assumed to…
Bitcoin as well as other cryptocurrencies are all plagued by the impact from bifurcation. Since the marginal cost of bifurcation is theoretically zero, it causes the coin holders to doubt on the existence of the coin's intrinsic value. This…
Bitcoin and Ethereum are the top two blockchain-based cryptocurrencies whether from cryptocurrency market cap or popularity. However, they are vulnerable to selfish mining and stubborn mining due to that both of them adopt Proof-of-Work…
We argue that the current POW based consensus algorithm of the Bitcoin network suffers from a fundamental economic discrepancy between the real world transaction (txn) costs incurred by miners and the wealth that is being transacted. Put…
We present and validate a novel mathematical model of the blockchain mining process and use it to conduct an economic evaluation of the double-spend attack, which is fundamental to all blockchain systems. Our analysis focuses on the value…
In this paper, we explore the partitioning attacks on the Bitcoin network, which is shown to exhibit spatial bias, and temporal and logical diversity. Through data-driven study we highlight: 1) the centralization of Bitcoin nodes across…
Quantum computing holds the potential to provide speedups in solving complex problems that are currently difficult for classical computers. However, the realization of this potential is hindered by the issue of current hardware reliability,…
Blockchain Sharding is a blockchain performance enhancement approach. By splitting a blockchain into several parallel-run committees (shards), it helps increase transaction throughput, reduce computational resources required, and increase…
The blocks in the Bitcoin blockchain record the amount of work W that went into creating them through proofs of work. When honest parties control a majority of the work, consensus is achieved by picking the chain with the highest recorded…
Grover's search algorithm is one of the first quantum algorithms to exhibit a provable quantum advantage. It forms the backbone of numerous quantum applications and is widely used in benchmarking efforts. Here, we report…
While advances in quantum computing promise new opportunities for scientific advancement (e.g., material science and machine learning), many people are not aware that they also threaten the widely deployed cryptographic algorithms that are…
In January 3, 2009, Satoshi Nakamoto gave rise to the "Bitcoin Block Chain" creating the first block of the chain hashing on his computers central processing unit (CPU). Since then, the hash calculations to mine Bitcoin have been getting…
We perform logical and physical resource estimation for computing binary elliptic curve discrete logarithms using Shor's algorithm on fault-tolerant quantum computers. We adopt a windowed approach to design our circuit implementation of the…
Proof-of-work computation used in cryptocurrencies has witnessed significant growth in the U.S. and many other regions around the world. One of the most significant bottlenecks for the scalable deployment of such computation is its energy…