相关论文: Distributionally Robust Game for Proof-of-Work Blo…
Owing to some special characteristics and features, blockchain is a very useful technique that can securely organize diverse devices in a smart city. It finds wide applications, especially in distributed environments, where entities such as…
Although proof of work (PoW) consensus dominates the current blockchain-based systems mostly, it has always been criticized for the uneconomic brute-force calculation. As alternatives, energy-conservation and energy-recycling mechanisms…
The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof of Work. Here, we point out an…
With the increasing adoption of decentralized information systems based on a variety of permissionless blockchain networks, the choice of consensus mechanism is at the core of many controversial discussions. Ethereum's recent transition…
We present an analysis of the Proof-of-Work consensus algorithm, used on the Bitcoin blockchain, using a Mean Field Game framework. Using a master equation, we provide an equilibrium characterization of the total computational power devoted…
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…
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…
Mining blocks in a blockchain using the \textit{Proof-of-Work} consensus protocol involves significant risk, as network participants face continuous operational costs while earning infrequent capital gains upon successfully mining a block.…
Blockchain is a novel technology that is rising a lot of interest in the industrial and re- search sectors because its properties of decentralisation, immutability and data integrity. Initially, the underlying consensus mechanism has been…
To participate in the distributed consensus of permissionless blockchains, prospective nodes -- or miners -- provide proof of designated, costly resources. However, in contrast to the intended decentralization, current data on blockchain…
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…
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…
Open-access blockchains based on proof-of-work protocols have gained tremendous popularity for their capabilities of providing decentralized tamper-proof ledgers and platforms for data-driven autonomous organization. Nevertheless, the…
The sixth generation (6G) systems are generally recognized to be established on ubiquitous Artificial Intelligence (AI) and distributed ledger such as blockchain. However, the AI training demands tremendous computing resource, which is…
Blockchain systems often employ proof-of-work consensus protocols to validate and add transactions into hashchains. These protocols stimulate competition among miners in solving cryptopuzzles (e.g. SHA-256 hash computation in Bitcoin) in…
Popular distributed ledger technology (DLT) systems using proof-of-work (PoW) for Sybil attack resistance have extreme energy requirements, drawing stern criticism from academia, businesses, and the media. DLT systems building on…
Proof-of-stake (PoS) has emerged as a natural alternative to the resource-intensive Proof-of-Work (PoW) blockchain, as was recently seen with the Ethereum Merge. PoS-based blockchains require an initial stake distribution among the…
This paper studies a fundamental problem regarding the security of blockchain PoW consensus on how the existence of multiple misbehaving miners influences the profitability of selfish mining. Each selfish miner (or attacker interchangeably)…
Blockchain has become a popular decentralized paradigm for various applications in the zero-trust environment. The core of the blockchain is the consensus protocol, which establishes consensus among all the participants. PoW (Proof-of-Work)…
In the white book of Bitcion, Satoshi Nakamoto described a bitcoin system that can realize point-to-point online payment without a third-party organization. After supporting this magical application scenario and subverting the traditional…