Proof-of-work system
View article: Solutions to Scalability of Blockchain: A Survey
Solutions to Scalability of Blockchain: A Survey Open
Blockchain-based decentralized cryptocurrencies have drawn much attention and been widely-deployed in recent years. Bitcoin, the first application of blockchain, achieves great success and promotes more development in this field. However, …
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Proof-of-Stake Consensus Mechanisms for Future Blockchain Networks: Fundamentals, Applications and Opportunities Open
The rapid development of blockchain technology and their numerous emerging applications has received huge attention in recent years. The distributed consensus mechanism is the backbone of a blockchain network. It plays a key role in ensuri…
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When Internet of Things Meets Blockchain: Challenges in Distributed Consensus Open
Blockchain has been regarded as a promising technology for Internet of Things\n(IoT), since it provides significant solutions for decentralized network which\ncan address trust and security concerns, high maintenance cost problem, etc.\nTh…
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Delegated Proof of Stake With Downgrade: A Secure and Efficient Blockchain Consensus Algorithm With Downgrade Mechanism Open
Blockchain technology has a wide range of applications in the fields of finance, credit reporting and intellectual property, etc. As the core of blockchain, consensus algorithm affects the security and performance of blockchain system dire…
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Applications of Blockchain Technology beyond Cryptocurrency Open
Blockchain (BC), the technology behind the Bitcoin crypto-currency system, is considered to be both alluring and critical for ensuring enhanced security and (in some implementations, non-traceable) privacy for diverse applications in many …
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Algorand: A secure and efficient distributed ledger Open
A distributed ledger is a tamperproof sequence of data that can be publicly accessed and augmented by everyone, without being maintained by a centralized party. Distributed ledgers stand to revolutionize the way a modern society operates. …
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Performance analysis and comparison of PoW, PoS and DAG based blockchains Open
In the blockchain, the consensus mechanism plays a key role in maintaining the security and legitimation of contents recorded in the blocks. Various blockchain consensus mechanisms have been proposed. However, there is no technical analysi…
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Prism Open
The concept of a blockchain was invented by Satoshi Nakamoto to maintain a distributed ledger. In addition to its security, important performance measures of a blockchain protocol are its transaction throughput and confirmation latency. In…
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Blockchain Economics Open
The fundamental problem in digital record-keeping is to establish consensus on an update to a ledger, e.g., a payment.Consensus must be achieved in the presence of faults-situations in which some computers are offline or fail to function a…
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Perun: Virtual Payment Hubs over Cryptocurrencies Open
Payment channels emerged recently as an efficient method for performing cheap micropayments in cryptocurrencies. In contrast to traditional on-chain transactions, payment channels have the advantage that they allow for nearly unlimited num…
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Fine-Grained and Controlled Rewriting in Blockchains: Chameleon-Hashing Gone Attribute-Based Open
Blockchain technologies recently received a considerable amount of attention.While the initial focus was mainly on the use of blockchains in the context of cryptocurrencies such as Bitcoin, application scenarios now go far beyond this.Most…
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A taxonomy of blockchain consensus protocols: A survey and classification framework Open
Blockchain, the underlying technology of Bitcoin, refers to the public ledger used in a distributed network. Because blockchain does not rely on a central authority, peers have to agree on the state of the ledger among themselves, i.e., th…
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Incentive Mechanism of Data Storage Based on Blockchain for Wireless Sensor Networks Open
In this paper, the blockchain technology is utilized to build the first incentive mechanism of nodes as per data storage for wireless sensor networks (WSNs). In our system, the nodes storing the data are rewarded with digital money. The mo…
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A Research Survey on Applications of Consensus Protocols in Blockchain Open
The concept of blockchain, widely known as virtual currencies, saw a massive surge in popularity in recent times. As far as the security of the blockchain is concerned, consensus algorithms play a vital role in the blockchain. Research has…
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Proof of Federated Learning: A Novel Energy-Recycling Consensus Algorithm Open
Proof of work (PoW), the most popular consensus mechanism for blockchain, requires ridiculously large amounts of energy but without any useful outcome beyond determining accounting rights among miners. To tackle the drawback of PoW, we pro…
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The 51% Attack on Blockchains: A Mining Behavior Study Open
The applications that use blockchain are cryptocurrencies, decentralized finance applications, video games, and many others. Most of these applications trust that the blockchain will prevent issues like fraud, thanks to the built-in crypto…
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Incentivizing Consensus Propagation in Proof-of-Stake Based Consortium Blockchain Networks Open
In proof-of-stake based consortium blockchain networks, pre-selected miners compete to solve a crypto-puzzle with a successfully mining probability proportional to the amount of their stakes. When the puzzle is solved, the miners are encou…
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MBCP: Performance Analysis of Large Scale Mainstream Blockchain Consensus Protocols Open
As Blockchain innovation picks up popularity in many areas, it is frequently hailed as a sound innovation. Because of the decentralization and encryption, many imagine that data put away in a Blockchain is and will consistently be protecte…
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Exploring the Attack Surface of Blockchain: A Systematic Overview Open
In this paper, we systematically explore the attack surface of the Blockchain technology, with an emphasis on public Blockchains. Towards this goal, we attribute attack viability in the attack surface to 1) the Blockchain cryptographic con…
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Decision Making using the Blockchain Proof of Authority Consensus Open
As the modern world migrates towards an interconnected environment, be it financially, socially, or industrially, the need for distributed systems has become paramount. Emergent paradigms need decentralized solutions to better handle the s…
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Equihash: Asymmetric Proof-of-Work Based on the Generalized Birthday Problem Open
Proof-of-work is a central concept in modern cryptocurrencies and denial-ofservice protection tools, but the requirement for fast verification so far has made it an easy prey for GPU-, ASIC-, and botnet-equipped users. The attempts to rely…
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The Bitcoin Mining Game Open
This article deals with the mining incentives in the Bitcoin protocol. The mining process is used to confirm and secure transactions. This process is organized as a speed game between individuals or firms – the miners – with different comp…
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Blockchain and Trusted Computing: Problems, Pitfalls, and a Solution for Hyperledger Fabric Open
A smart contract on a blockchain cannot keep a secret because its data is replicated on all nodes in a network. To remedy this problem, it has been suggested to combine blockchains with trusted execution environments (TEEs), such as Intel …
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Coin.AI: A Proof-of-Useful-Work Scheme for Blockchain-Based Distributed Deep Learning Open
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 blockc…
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Robust Proof of Stake: A New Consensus Protocol for Sustainable Blockchain Systems Open
In the digital economy era, the development of a distributed robust economy system has become increasingly important. The blockchain technology can be used to build such a system, but current mainstream consensus protocols are vulnerable t…
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The Energy Footprint of Blockchain Consensus Mechanisms Beyond Proof-of-Work Open
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 alternati…
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Lay Down the Common Metrics: Evaluating Proof-of-Work Consensus Protocols' Security Open
Following Bitcoin's Nakamoto Consensus protocol (NC), hundreds of cryptocurrencies utilize proofs of work (PoW) to maintain their ledgers. However, research shows that NC fails to achieve perfect chain quality, allowing malicious miners to…
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Securing Land Registration using Blockchain Open
The current land registration process involves a lot of vulnerabilities and people uses it to cheat the common people and the government. This paper discusses about a secure land registry implemented using blockchain which works on the bas…
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An Incentive Mechanism for Building a Secure Blockchain-Based Internet of Things Open
The world-changing blockchain technique provides a novel method to establish\na secure, trusted and decentralized system for solving the security and\npersonal privacy problems in Industrial Internet of Things (IIoT) applications.\nThe min…
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Beyond the Doomsday Economics of “Proof-of-Work” in Cryptocurrencies Open
This paper discusses the economics of how Bitcoin achieves data immutability, and thus payment finality, via costly computations, i.e., "proof-of-work."Further, it explores what the future might hold for cryptocurrencies modelled on this t…