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Zero-knowledge proof (ZKP) mixers are one of the most widely-used blockchain privacy solutions, operating on top of smart contract-enabled blockchains. We find that ZKP mixers are tightly intertwined with the growing number of Decentralized…
Although Bitcoin was intended to be a decentralized digital currency, in practice, mining power is quite concentrated. This fact is a persistent source of concern for the Bitcoin community. We provide an explanation using a simple model to…
Bitcoin is firmly becoming a mainstream asset in our global society. Its highly volatile nature has traders and speculators flooding into the market to take advantage of its significant price swings in the hope of making money. This work…
This paper presents an empirical analysis of Steemit, a key representative of the emerging incentivized social media platforms over Blockchains, to understand and evaluate the actual level of decentralization and the practical effects of…
The year 2024 witnessed a major development in the cryptocurrency industry with the long-awaited approval of spot Bitcoin exchange-traded funds (ETFs). This innovation provides investors with a new, regulated path to gain exposure to…
Decentralized finance (DeFi) markets spread across Layer-1 (L1) and Layer-2 (L2) blockchains rely on arbitrage to keep prices aligned. Today most price gaps are closed against centralized exchanges (CEXes), whose deep liquidity and fast…
Currently cryptocurrencies and Decentralized Finance (DeFi), which enable financial services on public blockchains, represents a new growing trend in finance. In contrast to financial markets, ruled by traditional corporations, DeFi is…
The Bitcoin protocol prescribes certain behavior by the miners who are responsible for maintaining and extending the underlying blockchain; in particular, miners who successfully solve a puzzle, and hence can extend the chain by a block,…
Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography which has recently gained excessive popularity. Scientific research on bitcoin is less abundant. A paper at Financial Cryptography 2012…
Blockchain is a decentralized, distributed ledger technology that ensures transparency, security, and immutability through cryptographic techniques. However, advancements in quantum computing threaten the security of classical cryptographic…
BlockChain (BC) immutability ensures BC resilience against modification or removal of the stored data. In large scale networks like the Internet of Things (IoT), however, this feature significantly increases BC storage size and raises…
In the context of blockchain, MEV refers to the maximum value that can be extracted from block production through the inclusion, exclusion, or reordering of transactions. Searchers often participate in order flow auctions (OFAs) to obtain…
Blockchain, as a distributed ledger technology, becomes increasingly popular, especially for enabling valuable cryptocurrencies and smart contracts. However, the blockchain software systems inevitably have many bugs. Although bugs in smart…
The objective of this paper is the construction of new indicators that can be useful to operate in the cryptocurrency market. These indicators are based on public data obtained from the blockchain network, specifically from the nodes that…
The set of distributed ledger architectures known as blockchain is best known for cryptocurrency applications such as Bitcoin and Ethereum. These permissionless block chains are showing the potential to be disruptive to the financial…
Traditional blockchains grant the miner of a block full control not only over which transactions but also their order. This constitutes a major flaw discovered with the introduction of decentralized finance and allows miners to perform MEV…
Decentralised organisations use blockchains as a basis for governance: they use on-chain transactions to allocate voting weight, publish proposals, cast votes, and enact the results. However, blockchain-based governance structures have…
The Internet of Vehicles (IoV) network can address the issue of limited computing resources and data processing capabilities of individual vehicles, but it also brings the risk of privacy leakage to vehicle users. Applying blockchain…
Most public blockchain protocols, including the popular Bitcoin and Ethereum blockchains, do not formally specify the order in which miners should select transactions from the pool of pending (or uncommitted) transactions for inclusion in…
A hard-fork reconfiguration of the peer to peer Bitcoin network is described that substitutes tamper-evident logs and proof-of-stake consensus for proof-of-work consensus. The block creation rewards and transaction fees are reallocated to…