Blockchain
Powering the Internet of Value
This paper is the result of a research project carried out by Labs in EVRY Financial Services during the fall of 2015.
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Each record separates the mechanism, the assumptions, and what the network did later. Underlined words open the live concept, protocol, or failure record. Where the upstream file is CC0, or a BIP states its own licence, the full text is on this site. Other documents stay a link. The reading-list builder attaches repositories. It does not fork them. Historic PDFs stay at their original paths. The research corpus is the rights and citation layer.
PrivacyConsensusInteroperabilityScalingMarketsCredit and stable valueData and agentsStorage and networksConfidential compute
CryptoNote · 2013 · Design paper
CryptoNote hides which output was spent by signing as a group, and it stops address reuse by giving every payment a fresh destination key. Amounts stay in the clear.
Zerocoin · 2013 · Design paper
Zerocoin lets someone burn a coin into a public commitment and later withdraw a different coin by proving the commitment is in the set, without saying which one.
Zerocash · 2014 · Design paper
Zerocash makes the payment itself private: the chain checks that value was conserved and not double-spent, without learning the sender, the receiver, or the amount.
Monero · 2016 · Design paper
Ring Confidential Transactions hide the amount inside a Monero-style ring, and still let the network check that inputs cover outputs and that a coin is spent only once.
Mimblewimble · 2016 · Design paper
Mimblewimble stores a chain of confidential outputs and the kernels that authorise them, and it lets spent history be cut away without breaking the check that no value was created.
Cardano · 2017 · Design paper
Ouroboros elects slot leaders from a stake distribution, and it argues that forging a chain still costs an adversary more stake than the honest majority, without burning energy on empty hashes.
Algorand · 2017 · Design paper
Algorand picks a small, unpredictable committee for each step, lets that committee vote, and replaces it before an adversary can learn who to corrupt.
Avalanche · 2018 · Design paper
Avalanche asks each node to sample a few others, adopt the colour it sees, and repeat. A decision that starts with a small majority is argued to lock in quickly, without a leader and without every node talking to every other.
Solana · 2018 · Design paper
Solana's paper bets that a chain can order a firehose of transactions if every node shares a clock, built by hashing the passage of time, and if signature checks are done before the block is agreed.
Tendermint · 2014 · Design paper
Tendermint runs a round of propose, prevote and precommit among a known weighted set. If more than two thirds prevote and precommit the same block, the block is final. It does not get unfinalised by a longer fork.
Tezos · 2014 · Design paper
Tezos treats the rules of the ledger, including the rules for changing the rules, as something the stakeholders can amend on-chain, with a delay long enough to exit.
Hedera · 2016 · Design paper
Hashgraph has every node gossip about gossip, weave those events into a graph, and run a virtual vote on that graph so that, in the paper's model, nobody has to send a vote.
Nano · 2017 · Design paper
Nano gives each account its own chain, lets that account record a balance change by referencing the block it is spending, and uses a vote among representatives only when two blocks conflict.
Zilliqa · 2017 · Design paper
Zilliqa splits the network into shards that process transactions in parallel, and it uses a smaller committee to order the shards' results so the pieces form one chain.
Harmony · 2019 · Design paper
Harmony combines staking, random sharding, and a fast Byzantine protocol inside each shard, and it tries to finish cross-shard messages in the same epoch rather than leaving them as an IOU.
MultiversX · 2019 · Design paper
Elrond, later MultiversX, proposes adaptive state sharding: accounts, transactions and validators are all split, and the split changes size as the network grows.
NEAR · 2019 · Design paper
NEAR shards execution across chunks, has a small group produce each chunk, and uses a nightshade-style assumption that a block can be valid even when some chunks are still hidden, as long as the data becomes available.
Aptos · 2022 · Design paper
Aptos takes the Move language and a pipelined Byzantine protocol, and it argues that a block can be spread, ordered, executed and certified as separate stages instead of one slow lockstep.
Sui · 2022 · Design paper
Sui's paper claims that an object a single owner holds can be committed without going through a total order with every other object. Shared objects still take the slower consensus path.
Diem · 2020 · Historical document
The Diem paper specifies a permissioned Byzantine chain for a payment system, with a stated validator set, a Move-based language, and upgrades and compliance hooks designed in rather than denied.
Mina · 2020 · Design paper
Mina, described in the Coda paper, replaces a growing block history with a short zero-knowledge proof that the current state is the result of a valid chain. A phone is supposed to check the proof, not the history.
TON · 2021 · Design paper
The Open Network paper describes a bag of sharded blockchains that can split and merge, with a masterchain recording their hashes, aimed at very high throughput and instant-feeling payments.
Kadena · 2018 · Design paper
Chainweb braids many proof-of-work chains so that each block commits to its peers' previous headers. The claim is that the braid gives throughput and makes a deep reorg on one chain visible to the others.
EOSIO · 2018 · Design paper
EOS.IO describes a delegated proof-of-stake chain in which a small elected set of block producers takes turns, users vote with staked tokens, and the software is built around high throughput and named accounts.
Internet Computer · 2018 · Design paper
The DFINITY consensus paper uses a random beacon and a threshold group to pick a block maker and notarize a chain quickly, aiming at a public chain whose 'final' confirmation is seconds away under its assumptions.
Polkadot · 2016 · Design paper
Polkadot's vision paper asks for many specialised chains that share a security layer, so a new chain need not recruit its own miners before it can be taken seriously.
Cosmos · 2016 · Design paper
Cosmos separates an application from its consensus, then connects many such applications with a packet protocol that does not pretend they share one validator set.
Lightning · 2016 · Design paper
Lightning lets two parties lock bitcoin in a channel, update a private balance many times, and publish a transaction on the base chain only when they need to settle or to punish a cheat.
Plasma · 2017 · Design paper
Plasma proposes child chains that post a commitment to a root chain, and it tries to make exits safe even if the child operator cheats, provided users watch and challenge.
Arbitrum · 2018 · Design paper
The Arbitrum paper describes a dispute protocol in which a manager need not re-execute a contract. If someone cheats, a bisection game narrows the lie to one step a small checker can verify.
StarkWare · 2018 · Design paper
The StarkWare paper shows a proof of computational integrity that is succinct, needs no trusted setup, and is argued to stay sound against quantum adversaries, so a chain can check a large computation by checking a small proof.
Celestia · 2019 · Design paper
LazyLedger, the paper behind Celestia's idea, has a chain that orders and publishes data, and leaves execution to clients. The chain does not run your contract. It makes the bytes available.
EigenLayer · 2023 · Design paper
EigenLayer's paper proposes that ether already staked to secure Ethereum can be restaked, under extra slash conditions, to secure other services the staker opts into.
Polygon · 2019 · Design paper
The Matic paper describes a sidechain whose checkpoints are posted to Ethereum, with a proof-of-stake layer for fast blocks and the root chain used for periodic commitment and for disputes.
Uniswap · 2020 · Design paper
Uniswap v2 prices a pair with a constant product: the pool multiplies its two reserves and refuses any trade that would shrink that product, before the fee.
Uniswap · 2021 · Design paper
Uniswap v3 lets a liquidity provider choose a price range. Inside that range their capital does more of the trading. Outside it, they are entirely in one asset and earn nothing until the price returns.
Curve · 2019 · Design paper
StableSwap shapes the curve so that similarly priced assets trade near one-to-one with low slippage, and the pool steepens into a normal product curve if the price runs away.
Balancer · 2019 · Design paper
Balancer generalises the constant-product pool to more than two tokens and to weights that need not be equal, so a pool can be a portfolio that also quotes prices.
0x · 2017 · Design paper
0x specifies off-chain orders that anyone can relay, and an on-chain settlement contract that checks signatures and moves the tokens, so the order book does not have to live in the contract.
Bancor · 2017 · Design paper
Bancor's paper puts a smart token in the middle of every conversion. The token holds reserves of other assets, and a formula quotes a price from the reserve ratio so a market can exist without a matching seller.
THORChain · 2020 · Design paper
THORChain's paper describes a network of continuous-liquidity pools that swap native assets across chains, with bonded node operators who can be slashed if they mishandle the vaults.
Compound · 2019 · Design paper
Compound's paper turns deposited tokens into a fungible claim and lets borrowers post collateral and draw a balance, with interest rates that move automatically as utilisation of the pool changes.
Aave · 2020 · Design paper
Aave's paper extends pooled lending with aTokens that rebase the balance itself, and with flash loans that must be repaid inside one transaction.
Maker · 2017 · Design paper
Maker's Dai is a liability minted against collateral locked in a vault, kept near a dollar target by a stability fee, a liquidation auction, and an emergency shutdown that settles to the collateral.
Terra · 2019 · Failure case
Terra's paper tries to keep a fiat-pegged token stable by letting traders mint and burn it against a second, volatile token, with no exogenous collateral equal to the supply. It is included as a design that failed in public.
Chainlink · 2017 · Design paper
Chainlink's paper answers a narrow question: how a contract can receive a fact from outside its chain, from a committee of nodes that fetch, aggregate and sign, instead of from one operator typing it in.
The Graph · 2020 · Design paper
The Graph's paper describes a market for indexing chain data: indexers stake, curators signal which subgraphs matter, and consumers pay for queries the base chain is bad at serving.
Augur · 2018 · Design paper
Augur's paper specifies a prediction market whose outcomes are reported by token holders, with a dispute ladder that can escalate a lie toward a fork of the market itself.
These primary papers were on the original site. Open the archived PDF rather than a second essay.
Satoshi Nakamoto, 2008
Buterin white paper
Wood, EIP-150 revision
Schwartz, Youngs, Britto
Mazières
Thomas and Schwartz
Back et al.
Fiat on a Bitcoin-era chain
Duffield and Diaz
King and Nadal, proof of stake
R3 introductory paper
Popov
Earlier than the 2017 Protocol Labs paper
Prediction markets
Vorick and Champine
Wilkinson et al.
Private-chain note, not Chainweb
The original Blockchain Lab PDF index, kept at the same paths. Summaries are the archive blurbs, not new essays.
This paper is the result of a research project carried out by Labs in EVRY Financial Services during the fall of 2015.
A blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties.
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
TECHNOLOGY and banking have a long close association. Both have been benefitting immensely by this association.
The blockchain paradigm when coupled with cryptographically-secured transactions has demonstrated its utility through a number of projects, not least Bitcoin.
Since the introduction of Bitcoin[Nak09] in 2009, and the multiple computer science and electronic cash innovations it brought, there has been great interest in the potential of decentralised cryptocurrencies.
While several consensus algorithms exist for the Byzantine Generals Problem, specifically as it pertains to distributed payment systems, many suffer from high latency induced by the requirement that all nodes within the network communicate synchronously
Bitcoin is widely regarded as the first broadly successful ecash system. An oft-cited concern, though, is that mining Bitcoins wastes computational resources.
Smart contracts with embedded business rules promise not only to reduce transaction costs but to create more agile value chains that enable closer cooperation and enhanced trust across the extended manufacturing ecosystem.
Blockchain is de nieuwe belofte in ICT: er gaat geen dag voorbij of er is een congres of er verschijnt een artikel over de technologie. Maar wat is blockchain precies en wat kan de overheid ermee?
Emerging smart contract systems over decentralized cryptocurrencies allow mutually distrustful parties to transact safely without trusted third parties. I
A cryptocurrency is a medium of exchange, which makes use of cryptography to secure transactions and to control creation of additional currency units.
This paper provides a high level overview of the architecture of the Digital Asset Platform, a common foundation on which financial services applications can be built.I
A cryptocurrency based on Bitcoin, the work of Satoshi Nakamoto, with various improvements such as a twotier incentivized network, known as the Masternode network. I
HEAT Ledger is a self-appointed “Gen 3.0” cryptocurrency platform focusing on resolving the two most pressing pitfalls of the existing 2.0 and 1.0 cryptocurrency server software solutions;
HEAT Ledger is a self-appointed “Gen 3.0” cryptocurrency platform focusing on resolving the two most pressing pitfalls of the existing 2.0 and 1.0 cryptocurrency server software solutions;
Bitcoin [1] has demonstrated a new approach to securely storing data in the cloud. The Bitcoin database services millions of users around the planet and has thus far shown itself to be essentially invulnerable to attack.
You are hereby granted a non-exclusive limited revocable license to use this National Society of Professional Engineers (NSPE) white paper provided full attribution is provided to NSPE
A distributed ledger made up of mutually distrusting nodes would allow for a single global database that records the state of deals and obligations between institutions and people
When Satoshi Nakamoto first set the Bitcoin blockchain into motion in January 2009, he was simultaneously introducing two radical and untested concepts.
by RJ Krawiec, Dan Housman, Mark White, Mariya Filipova, Florian Quarre, Dan Barr, Allen Nesbitt, Kate Fedosova, Jason Killmeyer, Adam Israel, Lindsay Tsai
Blockchain is a technology that creates a distributed ledger of transactions on a network that is secure, tamper-proof, and easily accessible.
Blockchain or Distributed Ledger Technology (DLT) offers a radically different paradigm of storing and managing information online.
DTCC is an industry-owned and governed financial market utility with more than 40 years of experience mitigating risk
In late May of 2016, a diverse group of experts met at #MTFBerlin, to participate in a laboratory in which they would experiment, test ideas and explore how blockchain technology
Heralding a New Era in Financial Services In recent months, hardly a day has passed without news of further initiatives and investments in blockchain
Digital asset management is one of promising applications of blockchain technology. Blockchains could provide principal disintermediation between digital asset issuers, application developers and consumers and decouple tasks.
— Since the introduction of Ethereum in 2014 there has been great interest in decentralized trustless applications (smart contracts).
Digital innovations in finance, loosely known as fintech, have garnered a great deal of attention across the financial industry.
Uport is a secure, easy-to-use system for self-sovereign identity, built on Ethereum. The uPort technology consists of three main components: smart contracts, developer libraries, and a mobile app.
A digital token backed by fiat currency provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit
April 26th | This day now marks two revolutions in freight, 60 years apart. The first was in 1956 with the launch Malcom McLean’s shipping container introducing.
The healthcare industry suffers from an inability to clearly communicate costs in a timely and easy-to-understand format.
The aim of this joint report by Euroclear and Oliver Wyman is to help leaders in capital markets to understand the potential of the technology, lay out the paths for its adoption, and present.
An open investment recording system built with intelligent lending and hedge fund administration in mind.
A peer-to-peer cloud storage network implementing client-side encryption would allow users to transfer and share data without reliance on a third party storage provider.
Creditbit is a relatively young cryptocurrency, developed on an independent Bitcoin-like Blockchain on December 2015.
Blockchain has begun to have a signicant inuence in the Internet of Things by enhancing security, empowering the incorporation of an increasing number of devices into the ecosystem.
Distributed Ledger Technology (DLT) (also known as blockchain technology or distributed database technology) has attracted significant interest and funding in the financial services industry in recent years.
The authors introduce Sia, a platform for decentralized storage. Sia enables the formation of storage contracts between peers.
The development of modern cryptocurrencies began in 2008 with the publication of an article by Satoshi Nakamoto [1] and Bitcoin release, although it should be noted, some work in this direction was made earlier[2].
The current cross-border clearing and settlement value chain is costly, inefficient, and not transparent.
Prediction markets are poised to become one of the most disruptive innovations in capital markets and data science since the beginning of the Information Revolution.
Filecoin is a distributed electronic currency similar to Bitcoin. Unlike Bitcoin’s computation-only proof-of-work, Filecoin’s proof-of-work function includes a proof-of-retrievability component, which requires nodes to prove they store a particular file.
January 3, 2009 has marked the beginning of a new era of globalisation and world interconnection: the first Bitcoin transaction1 has occurred.
January 3, 2009 has marked the beginning of a new era of globalisation and world interconnection: the first Bitcoin transaction1 has occurred.
A low-trust notary could replace conventional transaction servers and would allow users to gain access to safe, fast, inexpensive, off-chain transactions with increased functionality.
WINGS is a blockchain platform that seeds and nurtures a community dedicated to the launching, backing and promotion of new projects proposals through a fluid organizational model referred to as a Decentralized Autonomous Organization (DAO).
More than 200 years since the Industrial Revolution, global urbanisation keeps accelerating. United Nations projections indicate that 75% of the human population will be living in cities by 2050.
Blockchain is a special technology for peer-to-peer transaction platforms that uses decentralised storage to record all transaction data.
Most insurance services are currently both inefficient and nontransparent. We propose a way to solve these issues by implementing a system that provides peertopeer insurance.
The Plutus Mobile Application enables a user to make contactless Bitcoin payments at any merchant with a Near Field Communication (NFC) enabled checkout terminal.
TaaS introduces an innovation business model that allows investeros to capitalize on the rise of blockchain markets without dealing with hurdles. risk and technical barriers.
Bitcoin technology began to enter the public discourse in 2011, largely through its association as an anonymous payment system used on illicit and underground websites.
True innovation is rare, especially in the world of media. More difficult is to determine which aspect of media thrives for development most. Majority of mainstream media do not truly innovate as they are happy with their current business models.
With a blockchain-hosted Open Registry for Internet of Things, we envision a future where everything—from your car, to a work of art, to the glass of wine you drink at the end of a long day—can have a unique and unforgeable identity, life, and history on the Internet.
A peer-to-peer crypto-currency design derived from Satoshi Nakamoto’s Bitcoin. Proof-of-stake replaces proof-of-work to provide most of the network security.
A blockchain token is a digital token created on a blockchain as part of a decentralized softwareprotocol.
This paper introduces Kadena, the first private/permissioned blockchain technology to achieve high performance at scale. K
‘The revolution will not be televised. It will be cryptographically time stamped on the block chain.
This material was compiled based on the results of research and studies by directors, officers, and/or employees of Japan Exchange Group, Inc.,
The registration, transfer, clearing and settlement of equities represents a significant part of economic activity currently underserved by modern technological innovation.
The blockchain paradigm when coupled with cryptographically-secured transactions has demonstrated its utility through a number of projects, not least Bitcoin.
With the use of a mobile app and facial recognition, travelers need to be only identified once and can be quickly verified by nonaffiliated airlines, airports or other agencies.
Financial infrastructure is currently a mess of closed systems. Gaps between these systems mean that transaction costs are high [Provost 2013] and money moves slowly across political and geographic boundaries [Banning-Lover 2015; CGAP 2008].
We present a protocol for payments across payment systems. It enables secure transfers between ledgers and allows anyone with accounts on two ledgers to create a connection between them.
This document is not intended as financial advice; it is one mathematician’s take on the white paper before digging into the code. I’ve learned a lot writing this document.
Blockchain technology allows peers to exchange money directly without the need for a traditional financial intermediary, lowering the cost and increasing the speed of transactions.
In November 2008, a mysterious white paper appeared on the Internet in all quietness. Written under the pseudonym Satoshi Nakamoto, the paper described a new method for creating a fully distributed digital currency system by cryptographically
As more and more devices are connected in the Internet of Things (IoT), an enormous amount of value is waiting to be unlocked.
In this paper we analyze the technology used as a backbone of iota (a cryptocurrency for Internet-of-Things industry).
A blockchain is a system to share distributed data in a robust and mathematically secure way. Due to the ubiquity of data at the core of many real-world systems, blockchain technology is already revolutionizing data processing in many domains.
This report hopes to bring the World Government Summit a fresh perspective on the current state of blockchain technology. The report explores how the blockchain will drive positive changes in nearly every area of civic life over the next ten years.
There is widespread recognition among leaders in most industries that the role of digital technology is rapidly shifting, from being a driver of marginal efficiency to an enabler of fundamental innovation and disruption.
New technologies—supported by advances in encryption and network computing—are driving transformational change in the global economy, including in how goods, services and assets are exchanged.
Since the introduction of Bitcoin[Nak09] in 2009, and the multiple computer science and electronic cash innovations it brought, there has been great interest in the potential of decentralised cryptocurrencies.
This document and any other Adel documents do not constitute a prospectus of any sort and are not a solicitation for investment.
The »Industrial Data Space« is a virtual data space using standards and common governance models to facilitate the secure exchange and easy linkage of data in business ecosystems.
Entreprenörskapsforum är en oberoende stiftelse och den ledande nätverksorganisationen för att initiera och kommunicera policyrelevant forskning om entreprenörskap, innovationer och småföretag.
AT&T’s Domain 2.0 (D2) program is focused on leveraging cloud technologies (the AT&T Integrated Cloud – AIC) and network virtualization to offer services while reducing Capital.