FedChain: Secure Proof-of-Stake-based Framework for Federated-blockchain Systems

by   Cong T. Nguyen, et al.

In this paper, we propose FedChain, a novel framework for federated-blockchain systems, to enable effective transferring of tokens between different blockchain networks. Particularly, we first introduce a federated-blockchain system together with a cross-chain transfer protocol to facilitate the secure and decentralized transfer of tokens between chains. We then develop a novel PoS-based consensus mechanism for FedChain, which can satisfy strict security requirements, prevent various blockchain-specific attacks, and achieve a more desirable performance compared to those of other existing consensus mechanisms. Moreover, a Stackelberg game model is developed to examine and address the problem of centralization in the FedChain system. Furthermore, the game model can enhance the security and performance of FedChain. By analyzing interactions between the stakeholders and chain operators, we can prove the uniqueness of the Stackelberg equilibrium and find the exact formula for this equilibrium. These results are especially important for the stakeholders to determine their best investment strategies and for the chain operators to design the optimal policy to maximize their benefits and security protection for FedChain. Simulations results then clearly show that the FedChain framework can help stakeholders to maximize their profits and the chain operators to design appropriate parameters to enhance FedChain's security and performance.


Cross-chain between a Parent Chain and Multiple Side Chains

In certain Blockchain systems, multiple Blockchains are required to oper...

Cross-chain Interaction Model In a Fully Verified Way

There are different kinds of blockchains, which have been applied in var...

B-FICA: BlockChain based Framework for Auto-insurance Claim and Adjudication

In this paper, we propose a partitioned BlockChain based Framework for A...

A Taxonomy for Understanding the Security Technical Debts in Blockchain Based Systems

Blockchain is a disruptive technology intended at implementing secure de...

BlockRoam: Blockchain-based Roaming Management System for Future Mobile Networks

Mobile service providers (MSPs) are particularly vulnerable to roaming f...

Graviton: interchain swaps and wrapped tokens liquidity incentivisation solution

This paper discusses the issues with liquidity that inhibit adoption of ...

ABSNFT: Securitization and Repurchase Scheme for Non-Fungible Tokens Based on Game Theoretical Analysis

The Non-Fungible Token (NFT) is viewed as one of the important applicati...

Please sign up or login with your details

Forgot password? Click here to reset