Related papers: Economically Viable Randomness
Many Ethereum smart contracts rely on block attributes such as block.timestamp or blockhash to generate random numbers for applications like lotteries and games. However, these values are predictable and miner-manipulable, creating the Bad…
Smart contracts led to the emergence of the decentralized finance (DeFi) marketplace within blockchain ecosystems, where diverse participants engage in financial activities. In traditional finance, there are possibilities to create values,…
Ethereum Virtual Machine (EVM) is the run-time environment for smart contracts and its vulnerabilities may lead to serious problems to the Ethereum ecology. With lots of techniques being developed for the validation of smart contracts, the…
Extreme Value Theory (EVT) is one of the most commonly used approaches in finance for measuring the downside risk of investment portfolios, especially during financial crises. In this paper, we propose a novel approach based on EVT called…
Certified randomness can be generated with untrusted remote quantum computers using multiple known protocols, one of which has been recently realized experimentally. Unlike the randomness sources accessible on today's classical computers,…
As the number of decentralized applications and users on Ethereum grows, the ability of the blockchain to efficiently handle a growing number of transactions becomes increasingly strained. Ethereums current execution model relies heavily on…
In proof-of-work based blockchains such as Ethereum, verification of blocks is an integral part of establishing consensus across nodes. However, in Ethereum, miners do not receive a reward for verifying. This implies that miners face the…
We propose a smart contract that allows two mutually distrusting parties to transact any non-digital good or service by deploying a smart contract on a blockchain to act as escrow. The contract settles disputes by letting parties wager that…
A robust game is a distribution-free model to handle ambiguity generated by a bounded set of possible realizations of the values of players' payoff functions. The players are worst-case optimizers and a solution, called robust-optimization…
Though voting-based consensus algorithms in Blockchain outperform proof-based ones in energy- and transaction-efficiency, they are prone to incur wrong elections and bribery elections. The former originates from the uncertainties of…
Permission-less blockchains can realise trustless trust, albeit at the cost of limiting the complexity of computation tasks. To explain the implications for scalability, we have implemented a trust model for smart contracts, described as…
Blockchain systems, such as Ethereum, are increasingly adopting layer-2 scaling solutions to improve transaction throughput and reduce fees. One popular layer-2 approach is the Optimistic Rollup, which relies on a mechanism known as a…
In the realm of open and composable gaming, we envision platforms where users actively expand, create, engage, and immerse themselves in a rich world of entertainment. One promising avenue for achieving this vision is through fully on-chain…
In this paper, we explore remarkable similarities between multi-transactional behaviors of smart contracts in cryptocurrencies such as Ethereum and classical problems of shared-memory concurrency. We examine two real-world examples from the…
The Binary Vector Clock is a simple, yet space-efficient algorithm for generating a partial order of transactions in account-based blockchain systems. The Binary Vector Clock solves the problem of order dependency in systems such as…
Permissionless blockchains such as Bitcoin have excelled at financial services. Yet, opportunistic traders extract monetary value from the mesh of decentralized finance (DeFi) smart contracts through so-called blockchain extractable value…
Digital currencies and cryptocurrencies have hesitantly started to penetrate the investors, and the next step will be the regulatory risk management framework. We examine the Value-at-Risk and Expected Shortfall properties for the major…
Ethereum Smart Contracts based on Blockchain Technology (BT)enables monetary transactions among peers on a blockchain network independent of a central authorizing agency. Ethereum smart contracts are programs that are deployed as…
Smart contracts on public blockchains now manage large amounts of value, and vulnerabilities in these systems can lead to substantial losses. As AI agents become more capable at reading, writing, and running code, it is natural to ask how…
Maximal extractable value (MEV) in which block proposers unethically gain profits by manipulating the order in which transactions are included within a block, is a key challenge facing blockchains such as Ethereum today. Left unchecked, MEV…