Related papers: Base Fee Manipulation In Ethereum's EIP-1559 Trans…
The Ethereum blockchain utilizes the EIP-1559 algorithm to manage transaction inclusion and block assembly. However, EIP-1559 and much of the existing literature study this problem from a static perspective, focusing on price evolution…
Blockchain-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We…
In this paper we revisit the mining strategies in proof of work based cryptocurrencies and propose two strategies, we call smart and smarter mining, that in many cases strictly dominate honest mining. In contrast to other known attacks,…
Mining processes of Bitcoin and similar cryptocurrencies are currently incentivized with voluntary transaction fees and fixed block rewards which will halve gradually to zero. In the setting where optional and arbitrary transaction fee…
On March 13, 2024, Ethereum implemented EIP-4844, designed to enhance its role as a data availability layer. While this upgrade reduces data posting costs for rollups, it also raises concerns about its impact on the consensus layer due to…
In the Ethereum network, miners are incentivized to include transactions in a block depending on the gas price specified by the sender. The sender of a transaction therefore faces a trade-off between timely inclusion and cost of his…
The recently proposed Transaction Fee Mechanism (TFM) literature studies the strategic interaction between the miner of a block and the transaction creators (or users) in a blockchain. In a TFM, the miner includes transactions that maximize…
Strategies related to the blockchain concept of Extractable Value (MEV/BEV), such as arbitrage, front-, or back-running create strong economic incentives for network nodes to reduce latency. Modified nodes, that minimize transaction…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
We develop a general and practical framework to address the problem of the optimal design of dynamic fee mechanisms for multiple blockchain resources. Our framework allows to compute policies that optimally trade-off between adjusting…
Ethereum's ideals of decentralization and censorship resistance are undermined in practice, motivating ongoing efforts to reestablish these properties. Existing proposals for fairness mechanisms depend on the assumption that a sufficient…
As a key enabler of Web3, Ethereum has long faced scalability challenges. The recent EIP-4844 upgrade aims to alleviate the scalability issue by introducing the ''blob'', a new data structure for Layer-2 rollups that enables off-chain…
Existing fair exchange protocols usually neglect consideration of cost when assessing their fairness. However, in an environment with non-negligible transaction cost, e.g., public blockchains, high or unexpected transaction cost might be an…
As transaction fees skyrocket today, blockchains become increasingly expensive, hurting their adoption in broader applications. This work tackles the saving of transaction fees for economic blockchain applications. The key insight is that…
As the second largest cryptocurrency by market capitalization and today's biggest decentralized platform that runs smart contracts, Ethereum has received much attention from both industry and academia. Nevertheless, there exist very few…
Blockchain systems, such as Ethereum, use an approach called "metering" to assign a cost to smart contract execution, an approach which is designed to incentivise miners to operate the network and protect it against DoS attacks. In the…
Blockchain enables peer-to-peer transactions in cyberspace without a trusted third party. The rapid growth of Ethereum and smart contract blockchains generally calls for well-designed Transaction Fee Mechanisms (TFMs) to allocate limited…
Validators in permissionless, large-scale blockchains, such as Ethereum, are typically payoff-maximizing, rational actors. Ethereum relies on in-protocol incentives, like rewards for correct and timely votes, to induce honest behavior and…
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…
Smart contract platforms facilitate the development of important and diverse distributed applications in a simple manner. This simplicity stems from the inherent utility of employing the state of smart contracts to store, query and verify…