Related papers: Rational Threshold Cryptosystems
Traditionally, threshold secret sharing (TSS) schemes assume all parties have equal weight, yet emerging systems like blockchains reveal disparities in party trustworthiness, such as stake or reputation. Weighted Secret Sharing (WSS)…
To allocate transactions to blocks, cryptocurrencies use an auction-like transaction fee mechanism (TFM). A conjecture of Roughgarden [44] asks whether there is a TFM that is incentive compatible for both the users and the miner, and is…
We present an example where a distributed coordinated protocol supported by a blockchain-enabled monetary mechanism leads to achieving optimal information theoretic degrees of freedom gains. The considered setting is that of a linear…
Blockchains offer a decentralized and secure execution environment strong enough to host cryptocurrencies, but the state-replication model makes on-chain computation expensive. To avoid heavy on-chain workloads, systems like Truebit and…
The Bitcoin cryptocurrency records its transactions in a public log called the blockchain. Its security rests critically on the distributed protocol that maintains the blockchain, run by participants called miners. Conventional wisdom…
Permisionless decentralized ledgers ("blockchains") such as the one underlying the cryptocurrency Bitcoin allow anonymous participants to maintain the ledger, while avoiding control or "censorship" by any single entity. In contrast,…
A recent trend in multi-party computation is to achieve cryptographic fairness via monetary penalties, i.e. each honest player either obtains the output or receives a compensation in the form of a cryptocurrency. We pioneer another type of…
We propose a model suggesting that honest-but-rational consensus participants may play timing games, and strategically delay their block proposal to optimize MEV capture, while still ensuring the proposal's timely inclusion in the canonical…
Blockchain is a novel technology that is rising a lot of interest in the industrial and re- search sectors because its properties of decentralisation, immutability and data integrity. Initially, the underlying consensus mechanism has been…
The core premise of permissionless blockchains is their reliable and secure operation without the need to trust any individual agent. At the heart of blockchain consensus mechanisms is an explicit cost (whether work or stake) for…
Asset custody is a core financial service in which the custodian holds in-safekeeping assets on behalf of the client. Although traditional custody service is typically endorsed by centralized authorities, decentralized custody scheme has…
The crypto ecosystem has evolved into a formidable channel for raising venture capital. Each new wave of capital inflows has been epitomized by a new type of investment vehicle, may it be ICOs, DAOs, or NFTs. Regrettably, none of these…
This paper provides an overview of how crypto currency and blockchain engineering interacts with the law enforcement. We point out that a large proportion of crypto users are amateur investors and the dominant and the largest segment in…
Blockchain-based cryptocurrencies secure a decentralized consensus protocol by incentives. The protocol participants, called miners, generate (mine) a series of blocks, each containing monetary transactions created by system users. As…
Blockchain technology enhances transparency by maintaining a distributed ledger among mutually untrusting parties. Despite its advantages, scalability and availability remain critical bottlenecks that hinder widespread adoption. The…
We study game-theoretic models for capturing participation in blockchain systems. Permissionless blockchains can be naturally viewed as games, where a set of potentially interested users is faced with the dilemma of whether to engage with…
As of July 15, 2023, Ethererum, which is a Proof-of-Stake (PoS) blockchain [1] has around 410 Billion USD in total assets on chain (popularly referred to as total-value-locked, TVL) but has only 33 Billion USD worth of ETH staked in…
Smart contracts are stateful programs deployed on blockchains; they secure over a trillion dollars in transaction value per year. High-stakes smart contracts often rely on timely alerts about external events, but prior work has not analyzed…
Blockchain is currently one of the fastest-growing technologies in the field of Computer Science. It has found a prevalent use in financial applications like cryptocurrency, for example, Bitcoin and Ethereum. They have been able to bring an…
Transaction Fee Mechanisms (TFMs) study auction design in the Blockchain context, and emphasize robustness against miner and user collusion, moreso than traditional auction theory. \cite{chung2023foundations} introduce the notion of a…