Related papers: Travelers: A scalable fair ordering BFT system
The specification of state machine replication (SMR) has no requirement on the final total order of commands. In blockchains based on SMR, however, order matters, since different orders could provide their clients with different financial…
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…
Today's practical partially synchronous Byzantine Fault Tolerant (BFT) consensus protocols trade off low latency and high throughput. On the one end, traditional BFT protocols such as PBFT and its derivatives optimize for latency. They…
In this paper, we present a new BFT consensus mechanism which enables thousands of nodes to participate in the consensus process, and supports very high transaction throughput. This is achieved via an aggregated signature gossip protocol…
The CAP theorem says that no blockchain can be live under dynamic participation and safe under temporary network partitions. To resolve this availability-finality dilemma, we formulate a new class of flexible consensus protocols,…
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…
Existing permissionless blockchain solutions rely on peer-to-peer propagation mechanisms, where nodes in a network transfer transaction they received to their neighbors. Unfortunately, there is no explicit incentive for such transaction…
This work addresses the inherent issues of high latency in blockchains and low scalability in traditional consensus protocols. We present pod, a novel notion of consensus whose first priority is to achieve the physically-optimal latency of…
Trading on decentralized exchanges has been one of the primary use cases for permissionless blockchains with daily trading volume exceeding billions of U.S.~dollars. In the status quo, users broadcast transactions and miners are responsible…
Block space on the blockchain is scarce and must be allocated efficiently through block building. However, Ethereum's current block-building ecosystem, MEV-Boost, has become highly centralized due to integration, which distorts competition,…
Existing chain-based rotating-leader BFT SMR protocols for the partially synchronous network model with constant commit latencies incur block periods of at least $2\delta$ (where $\delta$ is the message transmission latency). While a…
The need for data trading promotes the emergence of data market. However, in conventional data markets, both data buyers and data sellers have to use a centralized trading platform which might be dishonest. A dishonest centralized trading…
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…
Synchronous consensus protocols offer a significant advantage over their asynchronous and partially synchronous counterparts by providing higher fault tolerance -- an essential benefit in distributed systems, like blockchains, where…
The intelligent upgrading of metropolitan rail transit systems has made it feasible to implement demand-side management policies that integrate multiple operational strategies in practical operations. However, the tight interdependence…
Many cryptographic protocols are intended to coordinate state changes among principals. Exchange protocols coordinate delivery of new values to the participants, e.g. additions to the set of values they possess. An exchange protocol is fair…
In this paper, we review the undercutting attacks in the transaction-fee-based regime of proof-of-work (PoW) blockchains with the longest chain fork-choice rule. Next, we focus on the problem of fluctuations in mining revenue and the mining…
The emerging blockchain protocols provide a decentralized architecture that is suitable of supporting Internet of Things (IoT) interactions. However, keeping a local copy of the blockchain ledger is infeasible for low-power and…
In this paper we propose Aleph, a leaderless, fully asynchronous, Byzantine fault tolerant consensus protocol for ordering messages exchanged among processes. It is based on a distributed construction of a partially ordered set and the…
In the Internet of Things (IoT) domain, devices need a platform to transact seamlessly without a trusted intermediary. Although Distributed Ledger Technologies (DLTs) could provide such a platform, blockchains, such as Bitcoin, were not…