Related papers: Tiered Mechanisms for Blockchain Transaction Fees
In order to have transactions executed and recorded on blockchains such as the Ethereum Mainnet, fees expressed in crypto-currency units of the blockchain must be paid. One can buy crypto-currency called Ether of the Ethereum blockchain…
Despite being under development for over 15 years, transaction throughput remains one of the key challenges confronting blockchains, which typically has a cap of a limited number of transactions per second. A fundamental factor limiting…
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…
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…
In the last few years, electric utility companies have increasingly invested into transactive energy systems. This trend was primarily caused by the integration of distributed energy resources (DERs) and internet-of-things (IoT) devices…
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…
Since the introduction of the first Bitcoin blockchain in 2008, different decentralized blockchain systems such as Ethereum, Hyperledger Fabric, and Corda, have emerged with public and private accessibility. It has been widely acknowledged…
Transaction fee plays an important role in determining the priority of transaction processing in public blockchain systems. Owing to the observability of unconfirmed transactions, a strategic user can postpone his transaction broadcasting…
Bitcoin is the first and the most extensive decentralized electronic cryptocurrency system that uses blockchain technology. It uses a peer-to-peer (P2P) network to operate without a central authority and propagate system information such as…
Blockchain solutions typically assume a synchronous network to ensure consistency and achieve consensus. In contrast, offline transaction systems aim to enable users to agree on and execute transactions without assuming bounded…
Options are fundamental to blockchain-based financial services, offering essential tools for risk management and price speculation, which enhance liquidity, flexibility, and market efficiency in decentralized finance (DeFi). Despite the…
Electronic government (e-government) uses information and communication technologies to deliver public services to individuals and organisations effectively, efficiently and transparently. E-government is one of the most complex systems…
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…
As a trusted middleware connecting the blockchain and the real world, the blockchain oracle can obtain trusted real-time price information for financial applications such as payment and settlement, and asset valuation on the blockchain.…
In the past decade, blockchain has shown a promising vision greatly to build the trust without any powerful third party in a secure, decentralized and salable manner. However, due to the wide application and future development from…
Although the iterative double auction has been widely used in many different applications, one of the major problems in its current implementations is that they rely on a trusted third party to handle the auction process. This imposes the…
Edge computing is a novel paradigm designed toimprove the quality of service for latency sensitive cloud applications. However, the state-of-the-art edge services are designedfor specific applications, which are isolated from each other.To…
Decentralized payment systems such as Bitcoin have become massively popular in the last few years, yet there is still much to be done in understanding their formal properties. The vast majority of decentralized payment systems work by…
We present Accept, a simple, asynchronous transaction system that achieves perfect horizontal scaling. Usual blockchain-based transaction systems come with a fundamental throughput limitation as they require that all (potentially unrelated)…
Micropayments are increasingly being adopted by a large number of applications. However, processing micropayments individually can be expensive, with transaction fees exceeding the payment value itself. By aggregating these small…