相关论文: Saving proof-of-work by hierarchical block structu…

Proof-of-Work (PoW) is the most widely adopted incentive model in current blockchain systems, which unfortunately is energy inefficient. Proof-of-Stake (PoS) is then proposed to tackle the energy issue. The rich-get-richer concern of PoS…

Cryptocurrencies that are based on Proof-of-Work (PoW) often rely on special purpose hardware to perform so-called mining operations that secure the system, with miners receiving freshly minted tokens as a reward for their work. A notable…

Consensus protocols are currently the bottlenecks that prevent blockchain systems from scaling. However, we argue that transaction execution is also important to the performance and security of blockchains. In other words, there are ample…

We study to what extent the Bitcoin blockchain security permanently depends on the underlying distribution of cryptocurrency market outcomes. We use daily blockchain and Bitcoin data for 2014-2019 and employ the ARDL approach. We test three…

We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and validators. Validators are system maintainers who get rewarded…

This paper introduces Proof of Team Sprint (PoTS), a novel consensus algorithm designed to address the significant energy inefficiencies inherent in traditional Proof of Work (PoW) systems. PoTS shifts the consensus mechanism from an…

This work proposes a novel proof-of-work blockchain incentive scheme such that, barring exogenous motivations, following the protocol is guaranteed to be the optimal strategy for miners. Our blockchain takes the form of a directed acyclic…

There are a multitude of Blockchain-based physical infrastructure systems, operating on a crypto-currency enabled token economy, where infrastructure suppliers are rewarded with tokens for enabling, validating, managing and/or securing the…

With the rapid growth of hyperconnected devices and decentralized data architectures, safeguarding Internet of Things (IoT) transactions is becoming increasingly challenging. Blockchain presents a promising solution, yet its effectiveness…

While many researchers adopt a sharding approach to design scaling blockchains, few works have studied the transaction placement problem incurred by sharding protocols. The widely-used hashing placement algorithm renders an overwhelming…

Blockchain-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We…

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…

In this paper, we represent the problem of selecting miners within a blockchain-based system as a subset selection problem. We formulate the problem of minimising blockchain energy consumption as an optimisation problem with two conflicting…

An enormous amount of energy is wasted in Proofof-Work (PoW) mechanisms adopted by popular blockchain applications (e.g., PoW-based cryptocurrencies), because miners must conduct a large amount of computation. Owing to this, one serious…

Proof of work blockchain protocols using multiple hash types are considered. It is proven that the security region of such a protocol cannot be the AND of a 51\% attack on all the hash types. Nevertheless, a protocol called Merged Bitcoin…

We propose a bitcoin generalization as a solution to the problem of scalability. The block is redefined as a sequence of sub-blocks of increasing sizes that coexist as different levels of compromise between decentralization and transactions…

Cryptocurrencies such as Bitcoin are realized using distributed systems and hence critically rely on the performance and security of the interconnecting network. The requirements on these networks and their usage, however can differ…

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…

Bitcoin constructs temporal order internally rather than synchronizing to any external clock. Empirical evidence shows that its time evolution is non-continuous, probabilistic, and self-regulated. Block discovery follows a stochastic…

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…