Related papers: Lissy: Experimenting with on-chain order books
Ethereum's scalability limitations pose significant challenges for the adoption of decentralized applications (dApps). Zero-Knowledge Rollups (ZK Rollups) present a promising solution, bundling transactions off-chain and submitting validity…
In this work, we explore the class of Ethereum smart contracts called the administrated ERC20 tokens. We demonstrate that these contracts are more owner-controlled and less safe than the services they try to disrupt, such as banks and…
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…
The long-term success of cryptocurrencies largely depends on the incentive compatibility provided to the validators. Bribery attacks, facilitated trustlessly via smart contracts, threaten this foundation. This work introduces, implements,…
In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…
Blockchains revolutionized centralized sectors like banking and finance by promoting decentralization and transparency. In a blockchain, information is transmitted through transactions issued by participants or applications. Miners…
Smart contracts enable users to execute payments depending on complex program logic. Ethereum is the most notable example of a blockchain that supports smart contracts leveraged for countless applications including games, auctions and…
Automated Market Makers (AMMs) are essential to decentralized finance, offering continuous liquidity and enabling intermediary-free trading on blockchains. However, participants in AMMs are vulnerable to Maximal Extractable Value (MEV)…
Popular blockchains such as Ethereum and several others execute complex transactions in blocks through user-defined scripts known as smart contracts. Serial execution of smart contract transactions/atomic-units (AUs) fails to harness the…
Decentralized exchanges, such as those employing constant product market makers (CPMMs) like Uniswap V2, play a crucial role in the blockchain ecosystem by enabling peer-to-peer token swaps without intermediaries. Despite the increasing…
Many prominent smart-contract applications such as payment channels, auctions, and voting systems often involve a mechanism in which some party must respond to a challenge or appeal some action within a fixed time limit. This pattern of…
Decentralized exchange platforms such as Uniswap and Balancer operate on several pools where each pool contains two or more cryptocurrencies and constitutes direct trading pairs. The drawbacks here are that liquidity providing requires…
Can you imagine, blockchain transactions can talk! In this paper, we study how they talk and what they talk about. We focus on the input data field of Ethereum transactions, which is designed to allow external callers to interact with smart…
We present the first in-depth empirical characterization of the costs of trading on a decentralized exchange (DEX). Using quoted prices from the Uniswap Labs interface for two pools -- USDC-ETH (5bps) and PEPE-ETH (30bps) -- we evaluate the…
The performance of existing permissionless smart contract platforms such as Ethereum is limited by the consensus layer. Prism is a new proof-of-work consensus protocol that provably achieves throughput and latency up to physical limits…
We study a novel automated market maker design: the function maximizing AMM (FM-AMM). Our central assumption is that trades are batched before execution. Because of competition between arbitrageurs, the FM-AMM eliminates arbitrage profits…
Rollups have become the de facto scalability solution for Ethereum, securing more than $55B in assets. They achieve scale by executing transactions on a Layer 2 ledger, while periodically posting data and finalizing state on the Layer 1,…
In blockchain, bribery is an inevitable problem since users with various goals can bribe miners by transferring cryptoassets. To alleviate the negative effects of such collusion, Ethereum blockchain implemented new transaction fee mechanism…
Constant-product market making functions were first introduced by Hayden Adams in 2017 to create Uniswap, a decentralised exchange on Ethereum. This enables users to exchange assets at any given rate. Some variations such as Balancer and…
Decentralised exchanges (DEXs) have transformed trading by enabling trustless, permissionless transactions, yet they face significant challenges such as impermanent loss and slippage, which undermine profitability for liquidity providers…