Related papers: The Future of MEV
Traditional single-proposer blockchains suffer from miner extractable value (MEV), where validators exploit their serial monopoly on transaction inclusion and ordering to extract rents from users. While there have been many developments at…
In the Ethereum network, miners are incentivized to include transactions in a block depending on the gas price specified by the sender. The sender of a transaction therefore faces a trade-off between timely inclusion and cost of his…
Ethereum smart contracts operate in a concurrent environment where multiple transactions can be submitted simultaneously. However, the Ethereum Virtual Machine (EVM) enforces sequential execution of transactions within each block to prevent…
Ethereum's scalability has been a major concern due to its limited transaction throughput and high fees. To address these limitations, Polygon has emerged as a sidechain solution that facilitates asset transfers between Ethereum and…
We show that Execution Tickets and Execution Auctions dramatically increase centralization in the market for block proposals, even without multi-block MEV concerns. Previous analyses have insufficiently or incorrectly modeled the…
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…
As the largest public blockchain-based platform supporting smart contracts, Ethereum has accumulated a large number of user transaction records since its debut in 2014. Analysis of Ethereum transaction records, however, is still relatively…
The MEV-Boost block auction contributes approximately 90% of all Ethereum blocks. Between October 2023 and March 2024, only three builders produced 80% of them, highlighting the concentration of power within the block builder market. To…
Blockchain is the underlying technology for cryptocurrencies such as Bitcoin. Blockchain is a robust distributed ledger that uses consensus algorithms to approve transactions in a decentralized manner, making malicious tampering extremely…
Bitcoin has attracted everyone's attention and interest recently. Ethereum (ETH), a second generation cryptocurrency, extends Bitcoin's design by offering a Turing-complete programming language called Solidity to develop smart contracts.…
The convergence of mobile edge computing (MEC) and blockchain is transforming the current computing services in mobile networks, by offering task offloading solutions with security enhancement empowered by blockchain mining. Nevertheless,…
A transaction fee mechanism (TFM) is an essential component of a blockchain protocol. However, a systematic evaluation of the real-world impact of TFMs is still absent. Using rich data from the Ethereum blockchain, the mempool, and…
This paper presents a multi-contract blockchain framework for inter-provider agreements in 6G networks, emphasizing performance analysis under a realistic Proof-of-Stake (PoS) setting on Ethereum's Sepolia testnet. We begin by quantifying…
Ethereum has emerged as a dynamic platform for exchanging cryptocurrency tokens. While token crowdsales cannot simultaneously guarantee buyers both certainty of valuation and certainty of participation, we show that if each token buyer…
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…
Ethereum clients execute transactions in a sequential order prescribed by the consensus protocol. This is a safe and conservative approach to blockchain transaction processing which forgoes running transactions in parallel even when doing…
This paper introduces and develops the concept of ``ticketing'', through which atomic broadcasts are orchestrated by nodes in a distributed system. The paper studies different ticketing regimes that allow parallelism, yet prevent slow nodes…
In order to have transactions executed and recorded on blockchains such as the Ethereum Mainnet, fees expressed in crypto-currency units of the blockchain must be paid. One can buy crypto-currency called Ether of the Ethereum blockchain…
Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms…
Since the Merge update upon which Ethereum transitioned to Proof of Stake, it has been touted that it resulted in lower power consumption and increased security. However, even if that is the case, can this state be sustained? In this paper,…