Related papers: SoK: Preventing Transaction Reordering Manipulatio…
New technologies, such as blockchain, are designed to address various system weaknesses, particularly those related to security. Blockchain can enhance numerous aspects of traditional banking systems by transforming them into digital,…
While catastrophic attacks on Ethereum persist, vulnerability research remains fixated on implementation-level smart contract bugs, creating a gap between academic understanding of vulnerabilities and the root causes of high-impact,…
Ethereum clients execute transactions in a sequential order prescribed by the consensus protocol. This is a safe and conservative approach to blockchain transaction processing which forgoes running transactions in parallel even when doing…
Decentralized applications are often composed of multiple interconnected smart contracts. This is especially evident in DeFi, where protocols are heavily intertwined and rely on a variety of basic building blocks such as tokens,…
Decentralized Finance (DeFi) is emerging as a peer-to-peer financial ecosystem, enabling participants to trade products on a permissionless blockchain. Built on blockchain and smart contracts, the DeFi ecosystem has experienced explosive…
In the age of Big Data, enabling task scheduling while protecting users' privacy is critical for various decentralized applications in blockchain-based smart contract platforms. Such a privacy-preserving task scheduler requires the task…
The transaction ordering dependency of the smart contracts building decentralized exchanges (DEXes) allow for predatory trading strategies. In particular, front-running attacks present a constant risk for traders on DEXes. Whereas legal…
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…
Decentralized Finance (DeFi) is a nascent set of financial services, using tokens, smart contracts, and blockchain technology as financial instruments. We investigate four possible drivers of DeFi returns: exposure to cryptocurrency market,…
Financial options are fundamental to traditional markets, enabling strategies ranging from hedging to speculating. Yet, while the Automated Market Maker paradigm has revolutionized decentralized spot markets, no equivalent standard has…
The successive generations of consensus algorithms have progressively shifted the performance bottleneck of blockchains to the execution layer. While recent works address this by parallelizing transaction execution, they often overlook the…
With the development of decentralized finance (DeFi), lending protocols have been increasingly proposed in the market. A comprehensive and in-depth evaluation of lending protocol is essential to the DeFi market participants. Due to the…
We introduce the Condorcet attack, a new threat to fair transaction ordering. Specifically, the attack undermines batch-order-fairness, the strongest notion of transaction fair ordering proposed to date. The batch-order-fairness guarantees…
As of August 2022, blockchain-based assets boast a combined market capitalisation exceeding one trillion USD, among which the most prominent are the decentralised autonomous organisation (DAO) tokens associated with decentralised finance…
Decentralized prediction markets (DePMs) allow open participation in event-based wagering without fully relying on centralized intermediaries. We review the history of DePMs which date back to 2011 and includes hundreds of proposals.…
The trustless nature of permissionless blockchains renders overcollateralization a key safety component relied upon by decentralized finance (DeFi) protocols. Nonetheless, factors such as price volatility may undermine this mechanism. In…
While the literature features a number of proposals to defend against transaction manipulation attacks, existing proposals are still not integrated within large blockchains, such as Bitcoin, Ethereum, and Cardano. Instead, the user…
Sharding is a prominent technique for scaling blockchains. By dividing the network into smaller components known as shards, a sharded blockchain can process transactions in parallel without introducing inconsistencies through the…
The problem of a single point of failure in centralized systems poses a great challenge to the stability of such systems. Meanwhile, the tamperability of data within centralized systems makes users reluctant to trust and use centralized…
Mechanisms for decentralized finance on blockchains suffer from various problems, including suboptimal price execution for users, latency, and a worse user experience compared to their centralized counterparts. Recently, off-chain…