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In a blockchain system, consensus protocol as an incentive and security mechanism, is to ensure the participants to build the block honestly and effectively. There are different consensus protocols for blockchain, like Proof of work (PoW),…

Proof-of-Work (PoW) consensus is traditionally analyzed under the assumption that all miners incur similar costs per unit of computational effort. In reality, costs vary due to factors such as regional electricity cost differences and…

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…

The rise of computational power has led to unprecedented performance gains for deep learning models. As more data becomes available and model architectures become more complex, the need for more computational power increases. On the other…

Regardless of their variations, blockchains require a consensus mechanism to validate transactions, supervise added blocks, maintain network security, synchronize the network state, and distribute incentives. Proof-of-Work (PoW), one of the…

Blockchains have recently gained popularity thanks to their ability to record "digital truth". They are designed to keep persistence, security, and avoid attacks which is useful for many applications. However, they are still problematic in…

The protocol for cryptocurrencies can be divided into three parts, namely consensus, wallet, and networking overlay. The aim of the consensus part is to bring trustless rational peer-to-peer nodes to an agreement to the current status of…

Proof-of-Work (PoW) blockchains have emerged as a robust and effective consensus mechanism in open environments, leading to widespread deployment with numerous cryptocurrency platforms and substantial investments. However, the commonly…

As cryptographic tokens and altcoins are increasingly being built to serve as utility tokens, the notion of useful work consensus protocols, as opposed to number-crunching PoW consensus, is becoming ever more important. In such contexts,…

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…

Most concurrent blockchain systems rely heavily on the Proof-of-Work (PoW) or Proof-of-Stake (PoS) mechanisms for decentralized consensus and security assurance. However, the substantial energy expenditure stemming from computationally…

Blockchain stores information into a chain of "blocks", whose integrity is usually guaranteed by Proof of Work (PoW). In many blockchain applications (including cryptocurrencies), users compete with each other to win the ownership of the…

One decade ago, Bitcoin was introduced, becoming the first cryptocurrency and establishing the concept of "blockchain" as a distributed ledger. As of today, there are many different implementations of cryptocurrencies working over a…

We introduce Auditable Proof-of-Work (APoW), a novel proof-of-work (PoW) construction inspired by Hashcash-style nonce searching, which enables the auditing of other miners' work through accountable re-scanning of the nonce space. The…

This document is written as an academic exercise, with the goal of exploring the feasibility of writing a white paper in accordance with Regulation (EU) 2023/1114 (MiCA). It is meant as a Proof of Concept (PoC) illustrating a concrete…

Bitcoin is the first of its kind, a truly decentralized and anonymous cryptocurrency. To realize it, it has developed blockchain technology using the concept of `Proof of Work' (PoW). The miners, nodes responsible for writing transaction…

Distributed ledger technology has gained wide popularity and adoption since the emergence of bitcoin in 2008 which is based on proof of work (PoW). It is a distributed, transparent and immutable database of records of all the transactions…

Proof of Work (PoW) is widely regarded as the most secure permissionless blockchain consensus protocol. However, its reliance on computationally intensive yet externally useless puzzles results in excessive electric energy wasting. To…

Parallel Proof-of-Work (PoW) protocols have been suggested in the literature to improve the safety guarantees, transaction throughput and confirmation latencies of Nakamoto consensus. In this work, we first consider the existing parallel…

Cryptocurrency exchanges use proofs of liabilities (PoLs) to prove to their customers their liabilities committed on-chain, thereby enhancing their trust in the service. Unfortunately, a close examination of currently deployed and academic…