Analysis of the Blockchain Protocol in Asynchronous Networks

@inproceedings{Pass2016AnalysisOT,
  title={Analysis of the Blockchain Protocol in Asynchronous Networks},
  author={Rafael Pass and Lior Seeman and Abhi Shelat},
  booktitle={IACR Cryptology ePrint Archive},
  year={2016}
}
Nakamoto’s famous blockchain protocol enables achieving consensus in a so-called permissionless setting—anyone can join (or leave) the protocol execution, and the protocol instructions do not depend on the identities of the players. His ingenious protocol prevents “sybil attacks” (where an adversary spawns any number of new players) by relying on computational puzzles (a.k.a. “moderately hard functions”) introduced by Dwork and Naor (Crypto’92). The analysis of the blockchain consensus protocol… CONTINUE READING
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