Related papers: Formal Analysis of Composable DeFi Protocols
Flash Loan attack can grab millions of dollars from decentralized vaults in one single transaction, drawing increasing attention from the Decentralized Finance (DeFi) players. It has also demonstrated an exciting opportunity that a huge…
In recent days, the proliferation of several existing and new cyber-attacks pose an axiomatic threat to the stability of financial services. It is hard to predict the nature of attacks that can trigger a serious financial crisis. The…
With the emerging developments of the Metaverse, a virtual world where people can interact, socialize, play, and conduct their business, it has become critical to ensure that the underlying systems are transparent, secure, and trustworthy.…
The decentralized finance (DeFi) community has grown rapidly in recent years, pushed forward by cryptocurrency enthusiasts interested in the vast untapped potential of new markets. The surge in popularity of cryptocurrency has ushered in a…
Decentralized Finance (DeFi), in which digital assets are exchanged without trusted intermediaries, has grown rapidly in value in recent years. The global DeFi ecosystem is fragmented into multiple blockchains, fueling the demand for…
Current blockchain protocols (e.g., Proof-of-Work and Proof-of-Stake) secure the ledger yet cannot measure validator trustworthiness, allowing subtle misconduct that is especially damaging in decentralized-finance (DeFi) settings. We…
We present a methodology to develop verified smart contracts. We write smart contracts, their specifications and implementations in the verification-friendly language Dafny. In our methodology the ability to write specifications,…
This paper presents DeCon, a declarative programming language for implementing smart contracts and specifying contract-level properties. Driven by the observation that smart contract operations and contract-level properties can be naturally…
Programs executed on a blockchain - smart contracts - have high financial stakes; their correctness is crucial. We argue, that this correctness needs to be foundational: correctness needs to be based on the operational semantics of their…
Blockchain has attracted broad interests to build decentralised applications. Blockchain has attracted broad interests to build decentralised applications. However, developing such applications without introducing vulnerabilities is hard…
Decentralized Finance (DeFi) platforms are often governed by Decentralized Autonomous Organizations (DAOs) which are implemented via governance protocols. Governance tokens are distributed to users of the platform, granting them voting…
Modern blockchains increasingly consist of multiple clients that implement a single blockchain protocol. If there is a semantic mismatch between the protocol implementations, the blockchain can permanently split and introduce new attack…
Blockchains are modern distributed systems that provide decentralized financial capabilities with trustable guarantees. Smart contracts are programs written in specialized programming languages running on a blockchain and govern how tokens…
Blockchain technology is among the fastest-growing technologies in the world today. It has been adopted in diverse areas but mostly in financial systems, such as Bitcoin cryptocurrency. Therefore, it is a niche that has attracted interest…
This paper discusses a decentralized finance (DeFi) application called MakerDAO. The Maker Protocol, built on the Ethereum blockchain, enables users to create and hold currency. Current elements of the Maker Protocol are the Dai stable…
The paper examines decentralized cryptocurrency protocols that are based on the use of internal tokens as identity tools. An analysis of security problems with popular Proof-of-stake consensus protocols is provided. A new protocol,…
Automatic security protocol analysis is currently feasible only for small protocols. Since larger protocols quite often are composed of many small protocols, compositional analysis is an attractive, but non-trivial approach. We have…
The rapid growth of Decentralized Finance (DeFi) boosts the Ethereum ecosystem. At the same time, attacks towards DeFi applications (apps) are increasing. However, to the best of our knowledge, existing smart contract vulnerability…
Opening up data produced by the Internet of Things (IoT) and mobile devices for public utilization can maximize their economic value. Challenges remain in the trustworthiness of the data sources and the security of the trading process,…
This article provides formal definitions characterizing well-formed composition of components in order to guarantee their safe deployment and execution. Our work focuses on the structural aspects of component composition; it puts together…