LedgerPub Date : 2016-12-21DOI: 10.5195/LEDGER.2016.62
Wessel Reijers, Fiachra O’Brolcháin, P. Haynes
{"title":"Governance in Blockchain Technologies & Social Contract Theories","authors":"Wessel Reijers, Fiachra O’Brolcháin, P. Haynes","doi":"10.5195/LEDGER.2016.62","DOIUrl":"https://doi.org/10.5195/LEDGER.2016.62","url":null,"abstract":"This paper is placed in the context of a growing number of social and political crit iq ues of blockchain technologies. We focus on the supposed potential of blockchain technologies to transform political institutions that are central to contemporary human societies, such as money, property right s regimes , and systems of democratic governance. Our aim is to examine the way blockchain technologies can bring about - and justify - new models of governance . To do so, w e draw on the philosophical works of Hobbes , Rousseau , and Rawls , analyzing blockchain governance in terms of contrasting social contract theories . We begin by comparing the justifications of blockchain governance offered by members of the blockchain developers ’ community with the justifications of governance presented with in social contract theories . We then examine the extent to which the model of governance offered by blockchain technologies reflect s key governance themes and assumptions located within social contract theories , focusing on the notions of sovereignty, the initial situation, decentralization and distributive justice .","PeriodicalId":36240,"journal":{"name":"Ledger","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2016-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70754326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
LedgerPub Date : 2016-01-01DOI: 10.14722/NDSS.2016.23108
A. Biryukov, D. Khovratovich
{"title":"Equihash: Asymmetric Proof-of-Work Based on the Generalized Birthday Problem","authors":"A. Biryukov, D. Khovratovich","doi":"10.14722/NDSS.2016.23108","DOIUrl":"https://doi.org/10.14722/NDSS.2016.23108","url":null,"abstract":"The proof-of-work is a central concept in modern cryptocurrencies, but the requirement for fast verification so far made it an easy prey for GPU-, ASIC-, and botnet-equipped users. The attempts to rely on memory-intensive computations in order to remedy the disparity between architectures have resulted in slow or broken schemes. In this paper we solve this open problem and show how to construct an asymmetric proof-of-work (PoW) based on a computationally hard problem, which requires a lot of memory to generate a proof (called ”memory-hardness” feature) but is instant to verify. Our primary proposal is a PoW based on the generalized birthday problem and enhanced Wagner’s algorithm for it. We introduce the new technique of algorithm binding to prevent cost amortization and demonstrate that possible parallel implementations are constrained by memory bandwidth. Our scheme has tunable and steep time-space tradeoffs, which impose large computational penalties if less memory is used. Our solution is practical and ready to deploy: a reference implementation of a proof-of-work requiring 700 MB of RAM runs in 30 seconds on a 1.8 GHz CPU, increases the computations by the factor of 1000 if memory is halved, and presents a proof of just 148 bytes long.","PeriodicalId":36240,"journal":{"name":"Ledger","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.14722/NDSS.2016.23108","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67132614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}