Related papers: Collusion-Resilience in Transaction Fee Mechanism …
The Ethereum blockchain as a decentralized platform is so successful that many applications deployed on it. However, for the inherent transparency properties and the lack of privacy, deploying a financial application on top of it is always…
In recent years, many Blockchain based frameworks for transacting commodities on a congestible network have been proposed. In particular, as the number of controllable grid connected assets increases, there is a need for a decentralized,…
The so-called blockchain trilemma asserts the impossibility of simultaneously achieving scalability, security, and decentralisation within a single blockchain protocol. In this paper, we formally refute that proposition. Employing predicate…
Participation in permissionless blockchains results in competition over system resources, which needs to be controlled with fees. Ethereum's current fee mechanism is implemented via a first-price auction that results in unpredictable fees…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
Sidechain technology has been envisioned as a promising solution to accelerate today's public blockchains in terms of scalability and interoperability. By relying on the mainchain for security, different sidechains can formulate their own…
The recent adoption of blockchain technologies and open permissionless networks suggest the importance of peer-to-peer atomic cross-chain transaction protocols. Users should be able to atomically exchange tokens and assets without depending…
Proof of work (PoW), as the representative consensus protocol for blockchain, consumes enormous amounts of computation and energy to determine bookkeeping rights among miners but does not achieve any practical purposes. To address the…
Digital money can be implemented efficiently by avoiding consensus. However, no-consensus implementations have drawbacks, as they cannot support smart contracts, and (even more fundamentally) they cannot deal with conflicting transactions.…
The cross-blockchain transaction remains one of the most challenging problems in blockchains. The root cause of the challenge lies in the nondeterministic nature of blockchains: A $n$-party transaction across multiple blockchains might be…
As a trusted middleware connecting the blockchain and the real world, the blockchain oracle can obtain trusted real-time price information for financial applications such as payment and settlement, and asset valuation on the blockchain.…
Layer 1 (L1) blockchains such as Ethereum are secured under an "honest supermajority of stake" assumption for a large pool of validators who verify each and every transaction on it. This high security comes at a scalability cost which not…
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 adoption of decentralized, tamper-proof ledger systems is paving the way for new applications and opportunities in different contexts. While most research aims to improve their scalability, privacy, and governance issues,…
Cryptocurrencies have gained popularity due to their transparency, security, and accessibility compared to traditional financial systems, with Bitcoin, introduced in 2009, leading the market. Bitcoin's security relies on blockchain…
Sophisticated mass attacks, especially when exploiting zero-day vulnerabilities, have the potential to cause destructive damage to organizations and critical infrastructure. To timely detect and contain such attacks, collaboration among the…
Since the invention of Bitcoin one decade ago, numerous cryptocurrencies have sprung into existence. Among these, proof-of-work is the most common mechanism for achieving consensus, whilst a number of coins have adopted "ASIC-resistance" as…
Cryptocurrency exchanges use proofs of liabilities (PoLs) to prove to their customers their liabilities committed on-chain, thereby enhancing their trust in the service. Unfortunately, a close examination of currently deployed and academic…
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…
Low transaction throughput and poor scalability are significant issues in public blockchain consensus protocols such as Bitcoins. Recent research efforts in this direction have proposed shard-based consensus protocols where the key idea is…