Related papers: SoK: Lending Pools in Decentralized Finance
The last decade has seen a variety of Asset-Transfer systems designed for decentralized environments. To address the problem of double-spending, these systems inherently make strong model assumptions and spend a lot of resources. In this…
Blockchains are decentralized systems that provide trustable execution guarantees. Smart contracts are programs written in specialized programming languages running on blockchains that govern how tokens and cryptocurrency are sent and…
Decentralized prediction markets (DePMs) allow open participation in event-based wagering without fully relying on centralized intermediaries. We review the history of DePMs which date back to 2011 and includes hundreds of proposals.…
The rising importance of cryptocurrencies as financial assets pushed their applicability from an object of speculation closer to standard financial instruments such as loans. In this work, we initiate the study of secure protocols that…
Thanks to the advances in machine learning, data-driven analysis tools have become valuable solutions for various applications. However, there still remain essential challenges to develop effective data-driven methods because of the need to…
Purposely modular, this protocol enables customization of several protocol properties, including the consensus properties implemented, blockchain type, the roots used, and virtual machine opcodes, among others. These modules enable…
Decentralized finance, powered by blockchain technology, is growing day by day. This field, which emerged a few years ago, today manages $70 billion in assets. In this study, the concept of decentralized finance is discussed and explained…
The security of blockchain systems based on Proof of Work relies on mining. However, mining suffers from unstable revenue, prompting many miners to form cooperative mining pools. Most existing mining pools operate in a centralized manner,…
Decentralized systems are a subset of distributed systems where multiple authorities control different components and no authority is fully trusted by all. This implies that any component in a decentralized system is potentially…
We study the loan contracts offered by decentralised loan protocols (DLPs) through the lens of financial derivatives. DLPs, which effectively are clearinghouses, facilitate transactions between option buyers (i.e. borrowers) and option…
Decentralized applications (dApps) in Decentralized Finance (DeFi) face a fundamental tension between regulatory compliance requirements like Know Your Customer (KYC) and maintaining decentralization and privacy. Existing permissioned DeFi…
Financial speculators often seek to increase their potential gains with leverage. Debt is a popular form of leverage, and with over 39.88B USD of total value locked (TVL), the Decentralized Finance (DeFi) lending markets are thriving.…
Consensus protocols used today in blockchains often rely on computational power or financial stakes - scarce resources. We propose a novel protocol using social capital - trust and influence from social interactions - as a non-transferable…
Blockchain systems come with a promise of decentralization that often stumbles on a roadblock when key decisions about modifying the software codebase need to be made. This is attested by the fact that both of the two major…
Many of the problems that arise in the context of blockchains and decentralized finance can be seen as variations on classical problems of distributed computing. The smart contract model proposed here is intended to capture both the…
Blockchain, which is a technology for distributedly managing ledger information over multiple nodes without a centralized system, has elicited increasing attention. Performing experiments on actual blockchains are difficult because a large…
With the agile development process of most academic and corporate entities, designing a robust computational back-end system that can support their ever-changing data needs is a constantly evolving challenge. We propose the implementation…
Proof of work cryptocurrencies began with the promise of a more egalitarian future with a decentralized monetary system with no powerful entities in charge. While this vision is far from realized, these cryptocurrencies are still touted to…
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,…
Centralization enhances the efficiency of Artificial Intelligence (AI) but also introduces critical challenges, including single points of failure, inherent biases, data privacy risks, and scalability limitations. To address these issues,…