Related papers: SoK: MEV Countermeasures: Theory and Practice
As the number of decentralized applications and users on Ethereum grows, the ability of the blockchain to efficiently handle a growing number of transactions becomes increasingly strained. Ethereums current execution model relies heavily on…
The use of blockchains for automated and adversarial trading has become commonplace. However, due to the transparent nature of blockchains, an adversary is able to observe any pending, not-yet-mined transactions, along with their execution…
Censorship resilience is a fundamental assumption underlying the security of blockchain protocols. Additionally, the analysis of blockchain security from an economic and game theoretic perspective has been growing in popularity in recent…
Blockchain validators can reduce block processing time by exploiting multi-core CPUs, but deterministic execution must preserve a given total order while respecting transaction conflicts and per-block runtime limits. This paper…
Recently, blockchain has gained momentum in the academic community thanks to its decentralization, immutability, transparency and security. As an emerging paradigm, Multi-access Edge Computing (MEC) has been widely used to provide…
This paper addresses the lack of research on quantifying Maximal Extractable Value (MEV) on Ethereum Layer 2 networks (L2s). Our findings reveal a substantial amount of MEV to be extracted on L2s, particularly on Polygon, with a lower bound…
Modern blockchains guarantee that submitted transactions will be included eventually; a property formally known as liveness. But financial activity requires transactions to be included in a timely manner. Unfortunately, classical liveness…
The Bitcoin cryptocurrency records its transactions in a public log called the blockchain. Its security rests critically on the distributed protocol that maintains the blockchain, run by participants called miners. Conventional wisdom…
We present a comprehensive analysis of the implications of artificial latency in the Proposer-Builder Separation framework on the Ethereum network. Focusing on the MEV-Boost auction system, we analyze how strategic latency manipulation…
With the rapid growth of Internet of Things (IoT) applications, there's a big demand for more processing power and resources in devices. Mobile Edge Computing (MEC) looks promising for enhancing performance and reducing costs by offloading…
Selfish mining is a well known vulnerability in blockchains exploited by miners to steal block rewards. In this paper, we explore a new form of selfish mining attack that guarantees high rewards with low cost. We show the feasibility of…
We study optimal auction design for Maximum Extractable Value (MEV) auction markets on Ethereum. Using a dataset of 2.2 million transactions across three major orderflow providers, we establish three empirical regularities: extracted values…
I study a repeated auction in which payments are made with a blockchain token created and initially owned by the auction designer. Unlike the ``virtual money'' previously examined in mechanism design, such tokens can be saved and traded…
Blockchain protocols incentivize participation through monetary rewards, assuming rational actors behave honestly to maximize their gains. However, attackers may attempt to harm others even at personal cost. These denial of profit attacks…
Despite the success in various scenarios, blockchain systems, especially EVM-compatible ones that serially execute transactions, still face the significant challenge of limited throughput. Concurrent transaction execution is a promising…
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…
In blockchains, mempool controls transaction flow before consensus, denial of whose service hurts the health and security of blockchain networks. This paper presents MPFUZZ, the first mempool fuzzer to find asymmetric DoS bugs by exploring…
Applications of blockchain technologies got a lot of attention in recent years. They exceed beyond exchanging value and being a substitute for fiat money and traditional banking system. Nevertheless, being able to exchange value on a…
In this paper we show that, using only mild assumptions, previously proposed multidimensional blockchain fee markets are essentially optimal, even against worst-case adversaries. In particular, we show that the average welfare gap between…
Demand for blockchains such as Bitcoin and Ethereum is far larger than supply, necessitating a mechanism that selects a subset of transactions to include "on-chain" from the pool of all pending transactions. This paper investigates the…