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Price feeds of cryptocurrencies are essential for Decentralized Finance (DeFi) applications to realize fundamental trading and exchanging functionalities, which are retrieved from external price data sources such as exchanges and input to…

Cryptography and Security · Computer Science 2025-06-25 Dongbin Bai , Jiannong Cao , Yinfeng Cao , Long Wen , Milos Stojmenovic

Decentralized Finance (DeFi) is a system of financial products and services built and delivered through smart contracts on various blockchains. In the past year, DeFi has gained popularity and market capitalization. However, it has also…

Machine Learning · Computer Science 2023-05-29 Arianna Trozze , Bennett Kleinberg , Toby Davies

Decentralized Finance (DeFi), a blockchain powered peer-to-peer financial system, is mushrooming. Two years ago the total value locked in DeFi systems was approximately 700m USD, now, as of April 2022, it stands at around 150bn USD. The…

Cryptography and Security · Computer Science 2022-09-16 Sam M. Werner , Daniel Perez , Lewis Gudgeon , Ariah Klages-Mundt , Dominik Harz , William J. Knottenbelt

Financial speculators often seek to increase their potential gains with leverage. Debt is a popular form of leverage, and with over 39.88B USD of total value locked (TVL), the Decentralized Finance (DeFi) lending markets are thriving.…

General Finance · Quantitative Finance 2021-10-04 Kaihua Qin , Liyi Zhou , Pablo Gamito , Philipp Jovanovic , Arthur Gervais

Federated Learning (FL) enables collaborative model training across institutions without sharing raw data. However, gradient sharing still risks privacy leakage, such as gradient inversion attacks. Homomorphic Encryption (HE) can secure…

Machine Learning · Computer Science 2025-10-27 Jiaqi Xue , Mayank Kumar , Yuzhang Shang , Shangqian Gao , Rui Ning , Mengxin Zheng , Xiaoqian Jiang , Qian Lou

Security concerns in large-scale networked environments are becoming increasingly critical. To further improve the algorithm security from the design perspective of decentralized optimization algorithms, we introduce a new measure: Privacy…

Optimization and Control · Mathematics 2024-12-16 Luqing Wang , Luyao Guo , Shaofu Yang , Xinli Shi

Decentralized Finance (DeFi) on Ethereum has undergone significant transformations since its emergence during the DeFi summer of 2020. With the introduction of Proof of Stake (PoS) and Proposer-Builder Separation (PBS), the transaction…

General Economics · Economics 2025-05-27 Paul Janicot , Alex Vinyas

Decentralized finance (DeFi) has become one of the most successful applications of blockchain and smart contracts. The DeFi ecosystem enables a wide range of crypto-financial activities, while the underlying smart contracts often contain…

Cryptography and Security · Computer Science 2021-04-20 Palina Tolmach , Yi Li , Shang-Wei Lin , Yang Liu

Decentralized Autonomous Organizations (DAOs) are blockchain-based organizations that facilitate decentralized governance. Today, DAOs not only hold billions of dollars in their treasury but also govern many of the most popular…

Cryptography and Security · Computer Science 2024-08-08 Rainer Feichtinger , Robin Fritsch , Lioba Heimbach , Yann Vonlanthen , Roger Wattenhofer

Federated Learning (FL) enables collaborative model training without centralizing client data, making it attractive for privacy-sensitive domains. While existing approaches employ cryptographic techniques such as homomorphic encryption,…

Cryptography and Security · Computer Science 2026-02-09 Sahar Ghoflsaz Ghinani , Elaheh Sadredini

As an emerging application paradigm, serverless computing attracts attention from more and more attackers. Unfortunately, security tools for conventional applications cannot be easily ported to serverless, and existing serverless security…

Cryptography and Security · Computer Science 2020-11-11 Deepak Sirone Jegan , Liang Wang , Siddhant Bhagat , Thomas Ristenpart , Michael Swift

Decentralized Finance (DeFi) has reshaped the possibilities of reserve banking in the form of the Collateralized Debt Position (CDP). Key to the safety of CDPs is the money supply architecture that enables issued debt to maintain its value.…

Risk Management · Quantitative Finance 2024-07-19 Yuval Boneh

Credit allows a lender to loan out surplus capital to a borrower. In the traditional economy, credit bears the risk that the borrower may default on its debt, the lender hence requires upfront collateral from the borrower, plus interest fee…

Cryptography and Security · Computer Science 2021-03-23 Kaihua Qin , Liyi Zhou , Benjamin Livshits , Arthur Gervais

Decentralized Finance (DeFi) is a prominent application of smart contracts, representing a novel financial paradigm in contrast to centralized finance. While DeFi applications are rapidly emerging on mainstream blockchain platforms, their…

Software Engineering · Computer Science 2024-01-12 Wei Ma , Chenguang Zhu , Ye Liu , Xiaofei Xie , Yi Li

The decentralized finance (DeFi) community has grown rapidly in recent years, pushed forward by cryptocurrency enthusiasts interested in the vast untapped potential of new markets. The surge in popularity of cryptocurrency has ushered in a…

Computational Engineering, Finance, and Science · Computer Science 2025-12-12 Adriana Watson , Grant Richards , Daniel Schiff

We study the loan contracts offered by decentralised loan protocols (DLPs) through the lens of financial derivatives. DLPs, which effectively are clearinghouses, facilitate transactions between option buyers (i.e. borrowers) and option…

Pricing of Securities · Quantitative Finance 2024-09-09 Lukasz Szpruch , Marc Sabaté Vidales , Tanut Treetanthiploet , Yufei Zhang

The growth of the decentralized finance (DeFi) ecosystem built on blockchain technology and smart contracts has led to an increased demand for secure and reliable smart contract development. However, attacks targeting smart contracts are…

Cryptocurrency has seen an explosive growth in recent years, thanks to the evolvement of blockchain technology and its economic ecosystem. Besides Bitcoin, thousands of cryptocurrencies have been distributed on blockchains, while hundreds…

Cryptography and Security · Computer Science 2020-06-12 Ru Ji , Ningyu He , Lei Wu , Haoyu Wang , Guangdong Bai , Yao Guo

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…

Computer Science and Game Theory · Computer Science 2023-10-31 Matheus V. X. Ferreira , David C. Parkes

As of August 2022, blockchain-based assets boast a combined market capitalisation exceeding one trillion USD, among which the most prominent are the decentralised autonomous organisation (DAO) tokens associated with decentralised finance…

General Economics · Economics 2025-05-08 Teng Andrea Xu , Jiahua Xu , Kristof Lommers