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While pump-and-dump schemes have attracted the attention of cryptocurrency observers and regulators alike, this paper represents the first detailed empirical query of pump-and-dump activities in cryptocurrency markets. We present a case…

Trading and Market Microstructure · Quantitative Finance 2023-01-18 Jiahua Xu , Benjamin Livshits

Blockchain enables peer-to-peer transactions in cyberspace without a trusted third party. The rapid growth of Ethereum and smart contract blockchains generally calls for well-designed Transaction Fee Mechanisms (TFMs) to allocate limited…

General Economics · Economics 2023-05-05 Luyao Zhang , Fan Zhang

Blokchain is used in a variety of applications where trustworthy computing is re-quired. Trade finance is one of these areas that would benefit immensely from a decentralized way of doing transactions. This paper presents the preliminary…

Cryptography and Security · Computer Science 2022-04-29 Asif Bhat , Rizal Mohd Nor , Md Amiruzzaman , Md. Rajibul Islam

Peer-to-peer trading and the move to decentralized grids have reshaped the energy markets in the United States. Notwithstanding, such developments lead to new challenges, mainly regarding the safety and authenticity of energy trade. This…

An increasing number of industries rely on Internet-of-Things devices to track physical resources. Blockchain technology provides primitives to represent these resources as digital assets on a secure distributed ledger. Due to the…

Distributed, Parallel, and Cluster Computing · Computer Science 2020-04-13 Martijn de Vos , Can Umut Ileri , Johan Pouwelse

In this paper, we analyze various Decentralized Finance (DeFi) protocols in terms of their token distributions. We propose an iterative mapping process that allows us to split aggregate token holdings from custodial and escrow contracts and…

General Economics · Economics 2020-12-18 Matthias Nadler , Fabian Schär

A growing number of products use layer 2 solutions to expand the capabilities of primary blockchains like Ethereum, where computation is off-loaded from the root chain, and the results are published to it in bulk. Those include optimistic…

Computer Science and Game Theory · Computer Science 2023-12-14 Yogev Bar-On , Yishay Mansour

Many cryptocurrency brokers nowadays offer a variety of derivative assets that allow traders to perform hedging or speculation. This paper proposes an effective algorithm based on neural networks to take advantage of these investment…

Machine Learning · Computer Science 2023-10-03 Quoc Minh Nguyen , Dat Thanh Tran , Juho Kanniainen , Alexandros Iosifidis , Moncef Gabbouj

The algorithmic trading comes from digitalisation of the processing of trading assets on financial markets. Since 1980 the computerization of the stock market offers real time processing of financial information. This technological…

Trading and Market Microstructure · Quantitative Finance 2009-03-19 Victor Lebreton

In this paper, we investigate two methods that allow us to automatically create profitable DeFi trades, one well-suited to arbitrage and the other applicable to more complicated settings. We first adopt the Bellman-Ford-Moore algorithm with…

Cryptography and Security · Computer Science 2021-03-04 Liyi Zhou , Kaihua Qin , Antoine Cully , Benjamin Livshits , Arthur Gervais

We present results demonstrating that an appropriately configured deep learning neural network (DLNN) can automatically learn to be a high-performing algorithmic trading system, operating purely from training-data inputs generated by…

Trading and Market Microstructure · Quantitative Finance 2020-12-03 Aaron Wray , Matthew Meades , Dave Cliff

Bilinear pairing is a fundamental operation that is widely used in cryptographic algorithms (e.g., identity-based cryptographic algorithms) to secure IoT applications. Nonetheless, the time complexity of bilinear pairing is $O(n^3)$, making…

Cryptography and Security · Computer Science 2021-01-08 Hanlin Zhang , Le Tong , Jia Yu , Jie Lin

Cross-chain transactions today remain slow, costly, and fragmented. Existing custodial exchanges expose users to counterparty and centralization risks, while non-custodial liquidity bridges suffer from capital inefficiency and slow…

Cryptography and Security · Computer Science 2025-09-08 Di Wu , Jingyu Liu , Xuechao Wang , Jian Liu , Yingjie Xue , Kui Ren , Chun Chen

Minimizing execution costs for large orders is a fundamental challenge in finance. Firms often depend on brokers to manage their trades due to limited internal resources for optimizing trading strategies. This paper presents a methodology…

Trading and Market Microstructure · Quantitative Finance 2024-06-05 Zoltan Eisler , Johannes Muhle-Karbe

Price feeds of cryptocurrencies are essential for Decentralized Finance (DeFi) applications to realize fundamental trading and exchanging functionalities, which are retrieved from external price data sources such as exchanges and input to…

Cryptography and Security · Computer Science 2025-06-25 Dongbin Bai , Jiannong Cao , Yinfeng Cao , Long Wen , Milos Stojmenovic

This paper presents a comprehensive statistical analysis of the Web3 ecosystem, comparing various Web3 tokens with traditional financial assets across multiple time scales. We examine probability distributions, tail behaviors, and other key…

Statistical Finance · Quantitative Finance 2024-12-09 Wei-Ru Chen , A. Christian Silva , Shen-Ning Tung

This paper will propose a novel machine learning based portfolio management method in the context of the cryptocurrency market. Previous researchers mainly focus on the prediction of the movement for specific cryptocurrency such as the…

Machine Learning · Computer Science 2025-12-10 Zijiang Yang

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…

Computational Finance · Quantitative Finance 2025-04-23 Yu Zhang , Yafei Li , Claudio Tessone

Cryptocurrency trading represents a nascent field of research, with growing adoption in industry. Aided by its decentralised nature, many metrics describing cryptocurrencies are accessible with a simple Google search and update frequently,…

Trading and Market Microstructure · Quantitative Finance 2023-07-27 Tom Liu , Stefan Zohren

Increasing the transactional throughput of decentralized blockchains in a secure manner has been the holy grail of blockchain research for most of the past decade. This paper introduces a scheme for scaling blockchains while retaining…

Cryptography and Security · Computer Science 2020-07-27 John Adler , Mikerah Quintyne-Collins
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