Related papers: Transaction Fee Mechanism Design with Active Block…
Increasing popularity of trading digital assets can lead to significant delays in Blockchain networks when processing transactions. When transaction fees become miners' primary revenue, an imbalance in reward may lead to miners adopting…
In traditional public blockchain networks, transaction fees are only allocated to full nodes (i.e., miners). However, the lack of relay rewards reduces the willingness of light nodes to relay transactions, especially in the…
Transaction Fee Mechanisms (TFMs) study auction design in the Blockchain context, and emphasize robustness against miner and user collusion, moreso than traditional auction theory. \cite{chung2023foundations} introduce the notion of a…
Collaborative machine learning (CML) provides a promising paradigm for democratizing advanced technologies by enabling cost-sharing among participants. However, the potential for rent-seeking behaviors among parties can undermine such…
Task allocation is a crucial process in modern systems, but it is often challenged by incomplete information about the utilities of participating agents. In this paper, we propose a new profit maximization mechanism for the task allocation…
In mechanism design it is typical to impose incentive compatibility and then derive an optimal mechanism subject to this constraint. By replacing the incentive compatibility requirement with the goal of minimizing expected ex post regret,…
We study a mechanism design problem in the blockchain proof-of-stake (PoS) protocol. Our main objective is to extend the transaction fee mechanism (TFM) recently proposed in Chung and Shi (SODA, p.3856-3899, 2023), so as to incorporate a…
Ecosystems enjoy increasing attention due to their flexibility and innovative power. It is well known, however, that this type of network-based economic governance structures occupies a potentially unstable position between the two stable…
We provide an economic model of Execution Tickets and use it to study the ability of the Ethereum protocol to capture MEV from block construction. We demonstrate that Execution Tickets extract all MEV when all buyers are homogeneous, risk…
We present two models of the block chain of Bitcoin in the interactive theorem prover Agda. The first one is based on a simple model of bank accounts, while having transactions with multiple inputs and outputs. The second model models…
With the rising emergence of decentralized and opportunistic approaches to machine learning, end devices are increasingly tasked with training deep learning models on-devices using crowd-sourced data that they collect themselves. These…
For preserving privacy, blockchains can be equipped with dedicated mechanisms to anonymize participants. However, these mechanism often take only the abstraction layer of blockchains into account whereas observations of the underlying…
Payment channels allow transactions between participants of the blockchain to be executed securely off-chain, and thus provide a promising solution for the scalability problem of popular blockchains. We study the online network design…
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…
Automated Market Makers (AMMs) are emerging as a popular decentralised trading platform. In this work, we determine the optimal dynamic fees in a constant function market maker. We find approximate closed-form solutions to the control…
Mobile edge computing (MEC) is a promising technology that enhances the efficiency of mobile blockchain networks, by enabling miners, often acted by mobile users (MUs) with limited computing resources, to offload resource-intensive mining…
As the core technology behind Bitcoin, Blockchain's decentralized, tamper-proof, and traceable features make it the preferred platform for organizational innovation. In current Bitcoin, block reward is halved every four years, and…
This study develops a conceptual simulation model for a tokenized recycling incentive system that integrates blockchain infrastructure, market-driven pricing, behavioral economics, and carbon credit mechanisms. The model aims to address the…
Blockchain transactions consume diverse resources, foremost among them storage, but also computation, communication, and others. Efficiently charging for these resources is crucial for effective system resource allocation and long-term…
Blockchains protect an ecosystem worth more than $500bn with strong security properties derived from the principle of decentralization. Is today's blockchain decentralized? In this paper, we empirically studied one of the least…