Related papers: Adversarial procurement in blockchains
If blockchain networks are to become the building blocks of the infrastructure for the future digital economy, then several challenges related to the resiliency and survivability of blockchain networks need to be addressed. The…
Blockchain systems, such as Ethereum, are increasingly adopting layer-2 scaling solutions to improve transaction throughput and reduce fees. One popular layer-2 approach is the Optimistic Rollup, which relies on a mechanism known as a…
This paper extends the blockchain sustainability framework of Budish (2018) to consider proof of stake (in addition to proof of work) consensus mechanisms and permissioned (where the number of nodes are fixed) networks. It is demonstrated…
Mining blocks on a blockchain equipped with a proof of work consensus protocol is well-known to be resource-consuming. A miner bears the operational cost, mainly electricity consumption and IT gear, of mining, and is compensated by a…
The core premise of permissionless blockchains is their reliable and secure operation without the need to trust any individual agent. At the heart of blockchain consensus mechanisms is an explicit cost (whether work or stake) for…
Payment channel networks (PCNs) enhance the scalability of blockchains by allowing parties to conduct transactions off-chain, i.e, without broadcasting every transaction to all blockchain participants. To conduct transactions, a sender and…
Blockchain technologies are gaining massive momentum in the last few years. Blockchains are distributed ledgers that enable parties who do not fully trust each other to maintain a set of global states. The parties agree on the existence,…
Metaheuristic search strategies have proven their effectiveness against man-made solutions in various contexts. They are generally effective in local search area exploitation, and their overall performance is largely impacted by the balance…
Blockchain and distributed ledger technologies rely on distributed consensus algorithms. In recent years many consensus algorithms and protocols have been proposed; most of them are for permissioned blockchain networks. However, the…
Supply chain applications operate in a multi-stakeholder setting, demanding trust, provenance, and transparency. Blockchain technology provides mechanisms to establish a decentralized infrastructure involving multiple stakeholders. Such…
A key performance metric in blockchains is the latency between when a transaction is broadcast and when it is confirmed (the so-called, confirmation latency). While improvements in consensus techniques can lead to lower confirmation…
Proof-of-work blockchains reward each miner for one completed block by an amount that is, in expectation, proportional to the number of hashes the miner contributed to the mining of the block. Is this proportional allocation rule optimal?…
Payment channel networks are supposed to overcome technical scalability limitations of blockchain infrastructure by employing a special overlay network with fast payment confirmation and only sporadic settlement of netted transactions on…
Despite being under development for over 15 years, transaction throughput remains one of the key challenges confronting blockchains, which typically has a cap of a limited number of transactions per second. A fundamental factor limiting…
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…
We initiate the study of transaction fee mechanism design for blockchain protocols in which multiple block producers contribute to the production of each block. Our contributions include: - We propose an extensive-form (multi-stage) game…
Transaction fee mechanism design is a new decentralized mechanism design problem where users bid for space on the blockchain. Several recent works showed that the transaction fee mechanism design fundamentally departs from classical…
We study selfish mining attacks in longest-chain blockchains like Bitcoin, but where the proof of work is replaced with efficient proof systems -- like proofs of stake or proofs of space -- and consider the problem of computing an optimal…
Bitcoin and other similar digital currencies on blockchains are not ideal means for payment, because their prices tend to go up in the long term (thus people are incentivized to hoard those currencies), and to fluctuate widely in the short…
A blockchain is a database of sequential events that is maintained by a distributed group of nodes. A key consensus problem in blockchains is that of determining the next block (data element) in the sequence. Many blockchains address this…