Related papers: Empirically Analyzing Ethereum's Gas Mechanism
ERC-4337, the Ethereum account abstraction standard, simplifies account management and transaction fee payment in decentralized applications by introducing programmable smart contract wallets and gas sponsorship via paymasters. However, its…
Traditional public blockchain systems typically had very limited transaction throughput because of the bottleneck of the consensus protocol itself. With recent advances in consensus technology, the performance limit has been greatly lifted,…
Ethereum, a leading blockchain platform, has revolutionized the digital economy by enabling decentralized transactions and the execution of smart contracts. Ethereum transactions form the backbone of its network, facilitating peer-to-peer…
Ethereum clients execute transactions in a sequential order prescribed by the consensus protocol. This is a safe and conservative approach to blockchain transaction processing which forgoes running transactions in parallel even when doing…
Transaction fees represent a major incentive in many blockchain systems as a way to incentivize processing transactions. Unfortunately, they also introduce an enormous amount of incentive asymmetry compared to alternatives like fixed block…
We continue the development of TinySol, a minimal object-oriented language based on Solidity, the standard smart-contract language used for the Ethereum platform. We first extend TinySol with exceptions and a gas mechanism, and equip it…
Participation in permissionless blockchains results in competition over system resources, which needs to be controlled with fees. Ethereum's current fee mechanism is implemented via a first-price auction that results in unpredictable fees…
Scalability is a common issue among the most used permissionless blockchains, and several approaches have been proposed to solve this issue. Tackling scalability while preserving the security and decentralization of the network is a…
EIP-1559 is a new proposed pricing mechanism for the Ethereum protocol developed to bring stability to fluctuating gas prices. To properly understand this as a stochastic process, it is necessary to develop the mathematical foundations to…
This paper analyzes the Execution Tickets proposal on Ethereum Research, unveiling its potential to revolutionize the Ethereum blockchain's economic model. At the core of this proposal lies a novel ticketing mechanism poised to redefine how…
Ethereum has become one of the primary global platforms for cryptocurrency, playing an important role in promoting the diversification of the financial ecosystem. However, the relative lag in regulation has led to a proliferation of…
We study the liquid democracy problem, where each voter can either directly vote to a candidate or delegate his voting power to a proxy. We consider the implementation of liquid democracy on the blockchain through Ethereum smart contract…
In recent years we have witnessed a dramatic increase in the adoption and application of smart contracts in a variety of contexts such as decentralized finance, supply chain management, and identity management. However, a critical stumbling…
Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms…
Many blockchains such as Ethereum execute all incoming transactions sequentially significantly limiting the potential throughput. A common approach to scale execution is parallel execution engines that fully utilize modern multi-core…
Modern blockchains increasingly rely on parallel execution to improve throughput. We show several industry and academic transaction fee mechanisms (TFMs) struggle to simultaneously account for execution parallelism while remaining…
Smart contracts are programs stored and executed on a blockchain. The Ethereum platform, an open-source blockchain-based platform, has been designed to use these programs offering secured protocols and transaction costs reduction. The…
This paper investigates how pricing schemes can achieve efficient allocations in blockchain systems featuring multiple transaction queues under a global capacity constraint. I model a capacity-constrained blockchain where users submit…
Ethereum is a permissionless blockchain ecosystem that supports execution of smart contracts, the key enablers of decentralized finance (DeFi) and non-fungible tokens (NFT). However, the expressiveness of Ethereum smart contracts is a…
This paper presents an in-depth exploration of Data Availability Sampling (DAS) and sharding mechanisms within decentralized systems through simulation-based analysis. DAS, a pivotal concept in blockchain technology and decentralized…