Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/138666
Title: TOWARDS SECURE PUBLIC BLOCKCHAIN PROTOCOLS AT SCALE
Authors: LUU THE LOI
Keywords: blockchain, cryptocurrency, security,
Issue Date: 21-Nov-2017
Citation: LUU THE LOI (2017-11-21). TOWARDS SECURE PUBLIC BLOCKCHAIN PROTOCOLS AT SCALE. ScholarBank@NUS Repository.
Abstract: In this thesis, we first analyse existing pool reward sharing protocols and show that they are vulnerable to an attack strategy called ``block withholding attack''. Our game-theoretic analysis proves that the attack is always well-incentivized, i.e. attacker gets more profit, in the long-run, but may not be so for a short duration. As a solution to resolve the mining centralization problem, we propose Smartpool, a novel protocol design for a decentralized cryptocurrency mining pool which is efficient in large scale. Our protocol leverages {\em smart contracts}, autonomous blockchain programs, to give transaction selection control back to miners while yielding low-variance payouts. As the last contribution, we propose a new distributed agreement protocol for public blockchains called Elastico that is scalable and secure even with presence of Byzantine adversary. Elastico scales transaction rates almost linearly with available computation for mining: the more the computation power in the network, the higher the number of transaction blocks selected per unit time.
URI: http://scholarbank.nus.edu.sg/handle/10635/138666
Appears in Collections:Ph.D Theses (Open)

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