Related papers: Credible Decentralized Exchange Design via Verifia…
In the area of blockchain, numerous methods have been proposed for suppressing intentional forks by attackers more effectively than the random rule. However, all of them, except for the random rule, require major updates, rely on a trusted…
People increasingly use digital platforms to exchange resources in accordance with some policies stating what resources users offer and what they require in return. In this paper, we propose a formal model of these environments, focussing…
Maximal extractable value (MEV) in which block proposers unethically gain profits by manipulating the order in which transactions are included within a block, is a key challenge facing blockchains such as Ethereum today. Left unchecked, MEV…
As an integral part of the decentralized finance (DeFi) ecosystem, decentralized exchanges (DEXs) with automated market maker (AMM) protocols have gained massive traction with the recently revived interest in blockchain and distributed…
Decentralization initiatives like Solid enable data owners to control who has access to their data and to stimulate innovation by creating both application and data markets. Once data owners share their data with others, though, it is no…
Maximal Extractable Value (MEV) refers to a wide class of economic attacks to public blockchains, where adversaries with the power to reorder, drop or insert transactions in a block can "extract" value from smart contracts. Empirical…
In recent years, prominent blockchain systems such as Bitcoin and Ethereum have experienced explosive growth in transaction volume, leading to frequent surges in demand for limited block space and causing transaction fees to fluctuate by…
Censorship resistance with short-term inclusion guarantees is an important feature of decentralized systems, missing from many state-of-the-art and even deployed consensus protocols. In leader-based protocols the leader arbitrarily selects…
There has been tremendous interest in the development of formal trust models and metrics through the use of analytics (e.g., Belief Theory and Bayesian models), logics (e.g., Epistemic and Subjective Logic) and other mathematical models.…
Permissionless blockchains allow the execution of arbitrary programs (called smart contracts), enabling mutually untrusted entities to interact without relying on trusted third parties. Despite their potential, repeated security concerns…
Private blockchain networks are used by enterprises to manage decentralized processes without trusted mediators and without exposing their assets publicly on an open network like Ethereum. Yet external parties that cannot join such networks…
In blockchain sharding, $n$ processing nodes are divided into $s$ shards, and each shard processes transactions in parallel. A key challenge in such a system is to ensure system stability for any ``tractable'' pattern of generated…
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…
Public blockchains implement a fee mechanism to allocate scarce computational resources across competing transactions. Most existing fee market designs utilize a joint, fungible unit of account (e.g., gas in Ethereum) to price otherwise…
In this paper, we present a pricing mechanism that aligns incentives of agents who exchange resources on a decentralized ledger with the goal of maximizing transaction throughput. Subdividing a blockchain ledger into shards promises to…
Cryptoassets such as cryptocurrencies and tokens are increasingly traded on decentralized exchanges. The advantage for users is that the funds are not in custody of a centralized external entity. However, these exchanges are prone to…
Bitcoin brings a new type of digital currency that does not rely on a central system to maintain transactions. By benefiting from the concept of decentralized ledger, users who do not know or trust each other can still conduct transactions…
Double auctions are widely used in financial markets, such as those for stocks, derivatives, currencies, and commodities, to match demand and supply. Once all buyers and sellers have placed their trade requests, the exchange determines how…
Byzantine Fault Tolerant (BFT) consensus forms the foundation of many modern blockchains striving for both high throughput and low latency. A growing bottleneck is transaction execution and validation on the critical path of consensus,…
The Bitcoin protocol prescribes certain behavior by the miners who are responsible for maintaining and extending the underlying blockchain; in particular, miners who successfully solve a puzzle, and hence can extend the chain by a block,…