Related papers: Time to Bribe: Measuring Block Construction Market
Ethereum has emerged as a leading platform for decentralized applications (dApps) due to its robust smart contract capabilities. One of the critical issues in the Ethereum ecosystem is Maximal Extractable Value (MEV), a concept that has…
Maximal Extractable Value (MEV) has become a significant incentive on blockchain networks, referring to the value captured through the manipulation of transaction execution order and strategic issuance of profit-generation transactions. We…
The rise of Ethereum has lead to a flourishing decentralized marketplace that has, unfortunately, fallen victim to frontrunning and Maximal Extractable Value (MEV) activities, where savvy participants game transaction orderings within a…
Permissionless blockchains promise to be resilient against censorship by a single entity. This suggests that deterministic rules, and not third-party actors, are responsible for deciding if a transaction is appended to the blockchain or…
Recently, two attacks were presented against Proof-of-Stake (PoS) Ethereum: one where short-range reorganizations of the underlying consensus chain are used to increase individual validators' profits and delay consensus decisions, and one…
Traditional single-proposer blockchains suffer from miner extractable value (MEV), where validators exploit their serial monopoly on transaction inclusion and ordering to extract rents from users. While there have been many developments at…
The advent of Ethereum 2.0 has introduced significant changes, particularly the shift to Proof-of-Stake consensus. This change presents new opportunities and challenges for arbitrage. Amidst these changes, we introduce BriDe Arbitrager, a…
Maximal Extractable Value (MEV) represents billions of dollars in extracted value that fundamentally shapes blockchain network dynamics and participant incentives. While research has focused on MEV extraction and mitigation, we lack…
The incentive-compatibility properties of blockchain transaction fee mechanisms have been investigated with *passive* block producers that are motivated purely by the net rewards earned at the consensus layer. This paper introduces a model…
The evolution of blockchain technology, from its origins as a decentralized ledger for cryptocurrencies to its broader applications in areas like decentralized finance (DeFi), has significantly transformed financial ecosystems while…
Maximum extractable value (MEV) has been extensively studied. In most papers, the researchers have worked with the Ethereum blockchain almost exclusively. Even though, Ethereum and other blockchains have dynamic gas prices this is not the…
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…
Users of decentralized finance (DeFi) applications face significant risks from adversarial actions that manipulate the order of transactions to extract value from users. Such actions -- an adversarial form of what is called…
Lending protocols in decentralized finance enable the permissionless exchange of capital from lenders to borrowers without relying on a trusted third party for clearing or market-making. Interest rates are set by the supply and demand of…
Maximal (also miner) extractable value, or MEV, usually refers to the value that privileged players can extract by strategically ordering, censoring, and placing transactions in a blockchain. Each blockchain network, which we refer to as a…
Proof-of-Work (PoW) systems face critical challenges, including excessive energy consumption and the centralization of mining power among entities with expensive hardware. Static mining pools exacerbate these issues by reducing competition…
The convergence of mobile edge computing (MEC) and blockchain is transforming the current computing services in wireless Internet-of-Things networks, by enabling task offloading with security enhancement based on blockchain mining. Yet the…
Ethereum is undergoing significant changes to its architecture as it evolves. These changes include its switch to PoS consensus and the introduction of significant infrastructural changes that do not require a change to the core protocol,…
Popular Ethereum wallets (like MetaMask) entrust centralized infrastructure providers (e.g., Infura) to run the consensus client logic on their behalf. As a result, these wallets are light-weight and high-performant, but come with security…
This paper presents a comprehensive comparative analysis of two dominant blockchain consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), evaluated across seven critical metrics: energy use, security, transaction speed,…