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Perpetual voting studies fair collective decision-making in settings where many decisions are to be made, and is a natural framework for settings such as parliaments and the running of blockchain Decentralized Autonomous Organizations…
We study binary decision-making in governance councils of Decentralized Autonomous Organizations (DAOs), where experts choose between two alternatives on behalf of the organization. We introduce an information structure model for such…
Business process collaboration between independent parties can be challenging, especially if the participants do not have complete trust in each other. Tracking actions and enforcing the activity authorizations of participants via…
High-frequency trading, in both traditional and decentralized markets, induces latency races and redundant order flow as traders spend resources to win time-sensitive opportunities. We show that auctioning artificial time priority can…
Leader-based protocols for consensus, i.e., atomic broadcast, allow some processes to unilaterally affect the final order of transactions. This has become a problem for blockchain networks and decentralized finance because it facilitates…
Fairness is a major concern in contemporary decision problems. In these situations, the objective is to maximize fairness while preserving the efficacy of the underlying decision-making problem. This paper examines repeated decisions on…
As an emerging decentralized secure data management platform, blockchain has gained much popularity recently. To maintain a canonical state of blockchain data record, proof-of-work based consensus protocols provide the nodes, referred to as…
Traditional blockchain design gives miners or validators full control over transaction ordering, i.e., they can freely choose which transactions to include or exclude, as well as in which order. While not an issue initially, the emergence…
Proof-of-Stake systems randomly choose, on each round, one of the participants as a consensus leader that extends the chain with the next block such that the selection probability is proportional to the owned stake. However, distributed…
Operating cloud service infrastructures requires high energy efficiency while ensuring a satisfactory service level. Motivated by data centers, we consider a workload routing and server speed control policy applicable to the system…
The limit order book mechanism has been the core trading mechanism of the modern financial market. In the cryptocurrency market, centralized exchanges also adopt this limit order book mechanism and a centralized matching engine dynamically…
We introduce Unity, a new consensus algorithm for public blockchain settings. Unity is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It encompasses hardware and…
Blockchains with smart contracts are distributed ledger systems that achieve block-state consistency among distributed nodes by only allowing deterministic operations of smart contracts. However, the power of smart contracts is enabled by…
This paper explores the utilization of blockchain token voting technology in student course selection systems. The current course selection systems face various issues, which can be mitigated through the implementation of blockchain…
Automated matching engines execute millions of orders per session, yet systematic asymmetries in latency, order size, and market access compound into persistent execution disparities that erode participant trust. We formulate provably fair…
This work considers to achieve near-optimal operation for a class of batch processes by employing self-optimizing control (SOC). Comparing with a continuous one, a batch process exhibits stronger nonlinearity with dynamics because of the…
Executing a basket of co-integrated assets is an important task facing investors. Here, we show how to do this accounting for the informational advantage gained from assets within and outside the basket, as well as for the permanent price…
Stablecoins have become significant assets in modern finance, with a market capitalization exceeding USD 246 billion (May 2025). Yet, despite their systemic importance, a comprehensive and risk-oriented understanding of crucial aspects like…
Multi-unit organizations are a form of organizations where the geographically dispersed units provide similar products or services in different markets. Deciding on an appropriate level of centralization in such organizations presents a…
Service Oriented Architectures (SOAs) are component-based architectures, characterized by reusability, modularization and composition, usually offered by HTTP (web services) and often equipped with a Quality of Services (QoS) measure. In…