相关论文: Incentives in Ethereum's Hybrid Casper Protocol
Consider a set of parties invited to execute a protocol $\Pi$. The protocol will incur some cost to run while in the end (or at regular intervals), it will populate and update local tables that assign (virtual) rewards to participants. Each…
Proof-of-Work (PoW) systems face critical challenges, including excessive energy consumption and the centralization of mining power among entities with expensive hardware. Static mining pools exacerbate these issues by reducing competition…
This paper presents a study of the Poof-of-Stake (PoW) Ethereum consensus protocol, following the recent switch from Proof-of-Work (PoS) to Proof-of-Stake within Merge upgrade. The new protocol has resulted in reduced energy consumption and…
The LMD GHOST consensus protocol is a critical component of proof-of-stake Ethereum. In its current form, this protocol is brittle, as evidenced by recent attacks and patching attempts. We propose Goldfish, a new protocol that satisfies key…
Smart contracts are blockchain programs that often handle valuable assets. Writing secure smart contracts is far from trivial, and any vulnerability may lead to significant financial losses. To support developers in identifying and…
Blockchain is a decentralized, distributed ledger technology that ensures transparency, security, and immutability through cryptographic techniques. However, advancements in quantum computing threaten the security of classical cryptographic…
We study a mechanism design problem in the blockchain proof-of-stake (PoS) protocol. Our main objective is to extend the transaction fee mechanism (TFM) recently proposed in Chung and Shi (SODA, p.3856-3899, 2023), so as to incorporate a…
Does the proof-of-work protocol serve its intended purpose of supporting decentralized cryptocurrency mining? To address this question, we develop a game-theoretical model where miners first invest in hardware to improve the efficiency of…
Client diversity is a cornerstone of blockchain resilience, yet most networks suffer from a dangerously skewed distribution of client implementations. This monoculture exposes the network to very risky scenarios, such as massive financial…
The rise of cryptocurrencies like Bitcoin and Ethereum has driven interest in blockchain database technology, with smart contracts enabling the growth of decentralized finance (DeFi). However, research has shown that adversaries exploit…
Consensus algorithms facilitate agreement on and resolution of blockchain functions, such as smart contracts and transactions. Ethereum uses a Proof-of-Stake (PoS) consensus mechanism, which depends on financial incentives to ensure that…
Gasper, the consensus protocol currently employed by Ethereum, typically requires 64 to 95 slots -- the units of time during which a new chain extending the previous one by one block is proposed and voted -- to finalize. This means that…
Tendermint-core blockchains (e.g. Cosmos) are considered today one of the most viable alternatives for the highly energy consuming proof-of-work blockchains such as Bitcoin and Ethereum. Their particularity is that they aim at offering…
This paper presents a novel staking coopetition design aimed at incentivizing decentralization and continuous growth of economic security within a proof-of-stake system. Staking rewards follow a nonlinear mapping relative to stake size.…
Bitcoin is a decentralised digital currency that serves as an alternative to existing transaction systems based on an external central authority for security. Although Bitcoin has many desirable properties, one of its fundamental…
Blockchain consensus mechanisms must balance security, decentralization, and efficiency while ensuring fair participation. Proof of Team Sprint (PoTS) is a cooperative consensus mechanism designed to address the energy inefficiencies and…
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…
We propose a new Proof-of-Stake consensus protocol constructed with a verifiable random function (VRF) and a verifiable delay function (VDF) that has the following properties: a) all addresses with positive stake can participate; b) is fair…
We propose DIPS Difficulty-based Incentives for Problem Solving), a simple modification of the Bitcoin proof-of-work algorithm that rewards blockchain miners for solving optimization problems of scientific interest. The result is a…
Proof of work (PoW), as the representative consensus protocol for blockchain, consumes enormous amounts of computation and energy to determine bookkeeping rights among miners but does not achieve any practical purposes. To address the…