What's so Different about Blockchain?-Blockchain is a Probabilistic State Machine

Kenji Saito, Hiroyuki Yamada

Research output: Chapter in Book/Report/Conference proceedingConference contribution

19 Citations (Scopus)

Abstract

Blockchain is a distributed timestamp server technology introduced for realization of Bitcoin, a digital cash system. It has been attracting much attention especially in the areas of financial and legal applications. But such applications would fail if they are designed without knowledge of the fundamental differences in blockchain from existing technology. We show that blockchain is a probabilistic state machine in which participants can never commit on decisions, we also show that this probabilistic nature is necessarily deduced from the condition where the number of participants remains unknown. This work provides useful abstractions to think about blockchain, and raises discussion for promoting the better use of the technology.

Original languageEnglish
Title of host publicationProceedings - 2016 IEEE 36th International Conference on Distributed Computing Systems Workshops, ICDCSW 2016
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages168-175
Number of pages8
ISBN (Electronic)9781509014828
DOIs
Publication statusPublished - 2016 Nov 23
Externally publishedYes
Event36th IEEE International Conference on Distributed Computing Systems Workshops, ICDCSW 2016 - Nara, Japan
Duration: 2016 Jun 272016 Jun 30

Publication series

NameProceedings - 2016 IEEE 36th International Conference on Distributed Computing Systems Workshops, ICDCSW 2016

Conference

Conference36th IEEE International Conference on Distributed Computing Systems Workshops, ICDCSW 2016
CountryJapan
CityNara
Period16/6/2716/6/30

Keywords

  • agreement
  • BFT
  • blockchain
  • Byzantine
  • consensus
  • fault tolerance
  • state machine
  • transaction

ASJC Scopus subject areas

  • Hardware and Architecture
  • Computer Networks and Communications

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  • Cite this

    Saito, K., & Yamada, H. (2016). What's so Different about Blockchain?-Blockchain is a Probabilistic State Machine. In Proceedings - 2016 IEEE 36th International Conference on Distributed Computing Systems Workshops, ICDCSW 2016 (pp. 168-175). [7756226] (Proceedings - 2016 IEEE 36th International Conference on Distributed Computing Systems Workshops, ICDCSW 2016). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/ICDCSW.2016.28