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In this review, we evaluate the mechanisms behind the decentralized finance protocols for generating stable, passive income. Currently, such savings interest rates can be as high as 20% annually, payable in traditional currency values such…
Blockchains face inherent limitations when communicating outside their own ecosystem, largely due to the Byzantine Fault Tolerant (BFT) 3f+1 security model. Trusted Execution Environments (TEEs) are a promising mitigation because they allow…
Most state machine replication protocols are either based on the 40-years-old Byzantine Fault Tolerance (BFT) theory or the more recent Nakamoto's longest chain design. Longest chain protocols, designed originally in the Proof-of-Work (PoW)…
Private blockchain networks are used by enterprises to manage decentralized processes without trusted mediators and without exposing their assets publicly on an open network like Ethereum. Yet external parties that cannot join such networks…
The Bitcoin cryptocurrency records its transactions in a public log called the blockchain. Its security rests critically on the distributed protocol that maintains the blockchain, run by participants called miners. Conventional wisdom…
The use of blockchains for automated and adversarial trading has become commonplace. However, due to the transparent nature of blockchains, an adversary is able to observe any pending, not-yet-mined transactions, along with their execution…
Over the past decade, the Bitcoin P2P network protocol has become a reference model for all modern cryptocurrencies. While nodes in this network are known, the connections among them are kept hidden, as it is commonly believed that this…
The rapid evolution of Internet of Things (IoT) environments has created an urgent need for secure and trustworthy distributed computing systems, particularly when dealing with heterogeneous devices and applications where centralized trust…
Financial institutions are currently looking into technologies for permissioned blockchains. A major effort in this direction is Hyperledger, an open source project hosted by the Linux Foundation and backed by a consortium of over a hundred…
Edge computing draws a lot of recent research interests because of the performance improvement by offloading many workloads from the remote data center to nearby edge nodes. Nonetheless, one open challenge of this emerging paradigm lies in…
We consider the execution of smart contracts on Bitcoin. There, every contract step corresponds to appending to the blockchain a new transaction that spends the output representing the old contract state, creating a new one for the updated…
We propose a scheme to preserve the anonymity of users in proof-of-asset transactions. We assume bitcoin-like cryptocurrency systems in which a user must prove the strength of its assets (i.e., solvency), prior conducting further…
The emerging blockchain technology supports decentralized computing paradigm shift and is a rapidly approaching phenomenon. While blockchain is thought primarily as the basis of Bitcoin, its application has grown far beyond cryptocurrencies…
We present a general consensus framework that allows to easily introduce a customizable Byzantine fault tolerant consensus algorithm to an existing (Delegated) Proof-of-Stake blockchain. We prove the safety of the protocol under the…
Bitcoin is one of the decentralized cryptocurrencies powered by a peer-to-peer blockchain network. Parties who trade in the bitcoin network are not required to disclose any personal information. Such property of anonymity, however,…
The growing interest in reliable multi-party applications has fostered widespread adoption of Byzantine Fault-Tolerant (BFT) consensus protocols. Existing BFT protocols need f more replicas than Paxos-style protocols to prevent equivocation…
Blockchain technology enforces the security, robustness, and traceability of operations of Process-Aware Information Systems (PAISs). In particular, transparency ensures that all data is publicly available, fostering trust among…
In this paper, we propose a blockchain-based computing verification protocol, called EntrapNet, for distributed shared computing networks, an emerging underlying network for many internet of things (IoT) applications. EntrapNet borrows the…
Bitcoin provides freshness properties by forming a blockchain where each block is associated with its timestamp and the previous block. Due to these properties, the Bitcoin protocol is being used as a decentralized, trusted, and secure…
We present a novel method for a multi-party, zero-trust validator infrastructure deployment arrangement via smart contracts to secure Proof-of-Stake (PoS) blockchains. The proposed arrangement architecture employs a combination of…