Related papers: Formally Verifying the Safety of Pipelined Moonsho…
Current blockchain protocols (e.g., Proof-of-Work and Proof-of-Stake) secure the ledger yet cannot measure validator trustworthiness, allowing subtle misconduct that is especially damaging in decentralized-finance (DeFi) settings. We…
In blockchain systems, especially cryptographic currencies such as Bitcoin, the double-spending and Byzantine-general-like problem are solved by reaching consensus protocols among all nodes. The state-of-the-art protocols include…
We prove Bitcoin is secure under temporary dishonest majority. We assume the adversary can corrupt a specific fraction of parties and also introduce crash failures, i.e., some honest participants are offline during the execution of the…
The paper examines decentralized cryptocurrency protocols that are based on the use of internal tokens as identity tools. An analysis of security problems with popular Proof-of-stake consensus protocols is provided. A new protocol,…
With the increasing adoption of decentralized information systems based on a variety of permissionless blockchain networks, the choice of consensus mechanism is at the core of many controversial discussions. Ethereum's recent transition…
DEX, or decentralized exchange, is a prominent class of decentralized finance (DeFi) applications on blockchains, attracting a total locked value worth tens of billions of USD today. This paper presents the first large-scale empirical study…
This paper introduces a deterministic Byzantine consensus algorithm that relies on a new weak coordinator. As opposed to previous algorithms that cannot terminate in the presence of a faulty or slow coordinator, our algorithm can terminate…
Chainspace is a decentralized infrastructure, known as a distributed ledger, that supports user defined smart contracts and executes user-supplied transactions on their objects. The correct execution of smart contract transactions is…
DeFi (Decentralized Finance) is one of the most important applications of today's cryptocurrencies and smart contracts. It manages hundreds of billions in Total Value Locked (TVL) on-chain, yet it remains susceptible to common DeFi price…
Recent Byzantine fault-tolerant (BFT) state machine replication (SMR) protocols increasingly focus on scalability to meet the requirements of distributed ledger technology (DLT). Validating the performance of scalable BFT protocol…
Decentralized Finance (DeFi) services are moving traditional financial operations to the Internet of Value (IOV) by exploiting smart contracts, distributed ledgers, and clever heterogeneous transactions among different protocols. The…
First-generation blockchains provide probabilistic finality: a block can be revoked, albeit the probability decreases as the block sinks deeper into the chain. Recent proposals revisited committee-based BFT consensus to provide…
Existing permissioned blockchains often rely on coordination-based consensus protocols to ensure the safe execution of applications in a Byzantine environment. Furthermore, these protocols serialize the transactions by ordering them into a…
Recent advances have improved the throughput and latency of blockchains by processing transactions accessing different parts of the state concurrently. However, these systems are unable to concurrently process (a) transactions accessing the…
Despite years of intensive research, Byzantine fault-tolerant (BFT) systems have not yet been adopted in practice. This is due to additional cost of BFT in terms of resources, protocol complexity and performance, compared with crash…
Cryptocurrencies are poised to revolutionize the modern economy by democratizing commerce. These currencies operate on top of blockchain-based distributed ledgers. Existing permissionless blockchain-based protocols offer unparalleled…
Decentralized Finance (DeFi) is built on a fundamentally different paradigm: rather than having to trust individuals and institutions, participants in DeFi potentially only have to trust computer code that is enforced by a decentralized…
Trust is the basis of any distributed, fault-tolerant, or secure system. A trust assumption specifies the failures that a system, such as a blockchain network, can tolerate and determines the conditions under which it operates correctly. In…
Decentralized Finance (DeFi) enables many novel applications that were impossible in traditional finances. However, it also introduces new types of vulnerabilities. An example of such vulnerabilities is a composability bug between token…
A proof of the security of the Bitcoin protocol is made rigorous, and simplified in certain parts. A computational model in which an adversary can delay transmission of blocks by time $\Delta$ is considered. The protocol is generalized to…