This Week in Blockchain Research Issue #116
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Paper of the Week:
Paper Title: Stochastic Modelling of BlockchainConsensus.
Blockchain and general purpose distributed ledgers are foundational technologies which bring significant innovation in the infrastructures and other underpinnings of our socio-economic systems.
These P2P technologies are able to securely diffuse information within and across networks, without need for trustees or central authorities to enforce consensus.
This contribution proposes a minimalistic stochastic model to understand the dynamics of blockchain-based consensus.
By leveraging on random-walk theory, it models block propagation delay on different network topologies and provides a classification of blockchain systems in terms of two emergent properties.
Firstly, it identifies two performing regimes: a functional regime corresponding to an optimal system function; and a non-functional regime characterised by a congested or branched state of sub-optimal blockchains.
Secondly, it discovers a phase transition during the emergence of consensus and numerically investigate the corresponding critical point.
The results provide important insights into the consensus mechanism and sub-optimal states in decentralised systems.
Authors: Claudio J. Tessone*, Paolo Tasca†, and Flavio Iannelli*,
1. Paper Title: TokenHook: Secure ERC-20 smart contract.
Summary: An ERC-20 designed to be secure against known vulnerabilities, and can serve as a second reference implementation to provide software diversity.
Authors: Reza Rahimian* and Jeremy Clark*
Affiliations: * Concordia University.
Summary: The most important overlay structural properties and the resilience to targeted attacks of seven distinct blockchain networks.
1. Paper Title: SoK: Understanding BFT Consensus in the Age of Blockchains.
Summary: This paper conducts a systematic and comprehensive study on BFT consensus protocols with a specific focus on the blockchain era.
Authors: Gang Wang*
Affiliations: * University of Connecticut.
Summary: This paper describes a simple stochastic performance model of the PBFT consensus mechanism, which is refined as not only a queueing system with complicated service times but also a level-independent quasi-birth-and-death (QBD) process.
Authors: Fan-Qi Ma*, Quan-Lin Li†, Yi-Han Liu†, and Yan-Xia Chang†,
Affiliations: * Yanshan University and † Beijing University of Technology.
1. Paper Title: High-Frequency Connectedness between Bitcoin and Other Top-Traded Crypto Assets during the COVID-19 Crisis.
Summary: This work applies the Diagonal-BEKK model to data from the pre-COVID and COVID-19 periods, and identifies significant changes in patterns of co-movements and correlations during the pandemic period.
Authors: Paraskevi Katsiampa*, Larisa Yarovaya†, and Damian Zięba‡,
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