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The prevalence of maximal extractable value (MEV) in the Ethereum ecosystem has led to a characterization of the latter as a dark forest. Studies of MEV have thus far largely been restricted to purely on-chain MEV, i.e., sandwich attacks,…

Computational Engineering, Finance, and Science · Computer Science 2024-04-09 Lioba Heimbach , Vabuk Pahari , Eric Schertenleib

This paper introduces a fraud-deterrent access validation system for public blockchains, leveraging two complementary concepts: "Transaction Proximity", which measures the distance between wallets in the transaction graph, and "Easily…

Cryptography and Security · Computer Science 2025-06-02 Gordon Y. Liao , Ziming Zeng , Mira Belenkiy , Jacob Hirshman

In the area of blockchains, a wallet is anything that manages the access to cryptocurrencies and tokens. Off-chain wallets appear in different forms, from paper wallets to hardware wallets to dedicated wallet apps, while on-chain wallets…

Cryptography and Security · Computer Science 2021-04-06 Monika di Angelo , Gernot Salzer

Maximal Extractable Value (MEV) represents a pivotal challenge within the Ethereum ecosystem; it impacts the fairness, security, and efficiency of both Layer 1 (L1) and Layer 2 (L2) networks. MEV arises when miners or validators manipulate…

Cryptography and Security · Computer Science 2025-01-28 Zeinab Alipanahloo , Abdelhakim Senhaji Hafid , Kaiwen Zhang

A key component of blockchain technology is the ledger, viz., a database that, unlike standard databases, keeps in memory the complete history of past transactions as in a notarial archive for the benefit of any future test. In…

Cryptography and Security · Computer Science 2021-10-01 Paolo Bottoni , Anna Labella , Remo Pareschi

The problem of a single point of failure in centralized systems poses a great challenge to the stability of such systems. Meanwhile, the tamperability of data within centralized systems makes users reluctant to trust and use centralized…

Cryptography and Security · Computer Science 2025-04-22 Ka Wai Wu

Smart contracts are small programs that run autonomously on the blockchain, using it as their persistent memory. The predominant platform for smart contracts is the Ethereum VM (EVM). In EVM smart contracts, a problem with significant…

Programming Languages · Computer Science 2025-12-01 Sifis Lagouvardos , Yannis Bollanos , Michael Debono , Neville Grech , Yannis Smaragdakis

Blockchains are gaining momentum due to the interest of industries and people in \emph{decentralized applications} (Dapps), particularly in those for trading assets through digital certificates secured on blockchain, called tokens. As a…

Cryptography and Security · Computer Science 2024-02-22 Giampaolo Bella , Domenico Cantone , Cristiano Longo , Marianna Nicolosi-Asmundo , Daniele Francesco Santamaria

The rapid development of blockchain technology has driven the widespread application of decentralized applications (DApps) across various fields. However, DApps cannot directly access external data and rely on oracles to interact with…

Computational Engineering, Finance, and Science · Computer Science 2025-02-25 Hengyang Zhang , Shike Li , Hang Bao , Sixing Wu , Jianbin Li

Smart contracts are self-executing programs on blockchain platforms like Ethereum, which have revolutionized decentralized finance by enabling trustless transactions and the operation of decentralized applications. Despite their potential,…

Software Engineering · Computer Science 2026-03-25 Gerardo Iuliano , Dario Di Nucci

Recently, a new generation of P2P systems capable of addressing data integrity and authenticity has emerged for the development of new applications for a "more" decentralized Internet, i.e., Distributed Ledger Technologies (DLT) and…

Distributed, Parallel, and Cluster Computing · Computer Science 2021-09-13 Mirko Zichichi , Luca Serena , Stefano Ferretti , Gabriele D'Angelo

The need for data trading promotes the emergence of data market. However, in conventional data markets, both data buyers and data sellers have to use a centralized trading platform which might be dishonest. A dishonest centralized trading…

Cryptography and Security · Computer Science 2020-07-15 Guoxiong Su , Wenyuan Yang , Zhengding Luo , Yinghong Zhang , Zhiqiang Bai , Yuesheng Zhu

A smart contract that is deployed to a blockchain system like Ethereum is, under reasonable circumstances, expected to be immutable and tamper-proof. This is both a feature (promoting integrity and transparency) and a bug (preventing…

Cryptography and Security · Computer Science 2022-06-03 Mehdi Salehi , Jeremy Clark , Mohammad Mannan

Decentralized Autonomous Organizations (DAOs), based on block-chain systems such as Ethereum, are emerging governance protocols that enable decentralized community management without a central authority. For instance, UniswapDAO allows…

Cryptography and Security · Computer Science 2024-10-30 Neil Shah

The scalability limitations of public blockchains have hindered their widespread adoption in real-world applications. While the Ethereum community is pushing forward in zk-rollup (zero-knowledge rollup) solutions, such as introducing the…

Cryptography and Security · Computer Science 2024-03-19 Chengpeng Huang , Rui Song , Shang Gao , Yu Guo , Bin Xiao

Despite the increasing popularity of Decentralized Applications (DApps), they are suffering from various vulnerabilities that can be exploited by adversaries for profits. Among such vulnerabilities, Read-Only Reentrancy (called ROR in this…

Software Engineering · Computer Science 2024-12-10 Jingwen Zhang , Zibin Zheng , Yuhong Nan , Mingxi Ye , Kaiwen Ning , Yu Zhang , Weizhe Zhang

The rise of Decentralized Finance ("DeFi") on the Ethereum blockchain has enabled the creation of lending platforms, which serve as marketplaces to lend and borrow digital currencies. We first categorize the activity of lending platforms…

Trading and Market Microstructure · Quantitative Finance 2022-06-08 Michael Darlin , Georgios Palaiokrassas , Leandros Tassiulas

We investigate the problem of pricing and hedging derivatives of Electricity Futures contract when the underlying asset is not available. We propose to use a cross hedging strategy based on the Futures contract covering the larger delivery…

Pricing of Securities · Quantitative Finance 2014-02-03 Adrien Nguyen Huu , Nadia Oudjane

Security bugs and trapdoors in smart contracts have been impacting the Ethereum community since its inception. Conceptually, the 1.45-million Ethereum's contracts form a single "gigantic program" whose behaviors are determined by the…

Cryptography and Security · Computer Science 2025-08-08 Thomas Ball , Nikolaj S. Bjørner , Ashley J. Chen , Shuo Chen , Yang Chen , Zhongxin Guo , Tzu-Han Hsu , Peng Liu , Nanqing Luo

We argue that the technical foundations of non-fungible tokens (NFTs) remain inadequately understood. Prior research has focused on market dynamics, user behavior, and isolated security incidents, yet systematic analysis of the standards…

Cryptography and Security · Computer Science 2025-08-12 Minfeng Qi , Qin Wang , Guangsheng Yu , Ruiqiang Li , Victor Zhou , Shiping Chen