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2016 IEEE 36th International Conference on Distributed Computing Systems Workshops (ICDCSW) (2016)
Nara, Nara, Japan
June 27, 2016 to June 30, 2016
ISSN: 2332-5666
ISBN: 978-1-5090-3686-8
pp: 168-175
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.
INDEX TERMS
Probabilistic logic, Online banking, Protocols, Data structures, History, Servers, Conferences
CITATION

K. Saito and H. Yamada, "What’s So Different about Blockchain? — Blockchain is a Probabilistic State Machine," 2016 IEEE 36th International Conference on Distributed Computing Systems Workshops (ICDCSW), Nara, Nara, Japan, 2016, pp. 168-175.
doi:10.1109/ICDCSW.2016.28
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