Related papers: Blockchain Price vs. Quantity Controls
The Committee Selection Mechanism can select multiple users of blockchain network to execute a consensus algorithm, such as PBFT. In order to guarantee two properties, the mathematical form of the mechanism is relatively limited. Further,…
While state-of-the-art permissioned blockchains can achieve thousands of transactions per second on commodity hardware with x86/64 architecture, their performance when running on different architectures is not clear. The goal of this work…
Blockchain technology, with implications in the financial domain, offers data in the form of large-scale transaction networks. Analyzing transaction networks facilitates fraud detection, market analysis, and supports government regulation.…
Bitcoin transaction fees will become more important as the block subsidy declines, but fee formation is hard to study with blockchain data alone because the relevant queueing environment is unobserved. We develop and estimate a structural…
Blockchain eliminates the need for trusted third-party intermediaries in business by enabling decentralised architecture design in software applications. However, the vulnerabilities in on-chain autonomous decision-makings and cumbersome…
This paper investigates design of noncooperative games from an optimization and control theoretic perspective. Pricing mechanisms are used as a design tool to ensure that the Nash equilibrium of a fairly general class of noncooperative…
Blockchain is relatively a new area of research. However, a surge of research studies on the blockchain has taken place in recent years. These research studies have mostly focused on designing and developing conceptual frameworks to build…
ZK-Rollups have emerged as a leading solution for blockchain scalability, leveraging succinct proofs primarily based on ZKP protocols. This paper explores the design of transaction fee mechanisms (TFMs) for ZK-Rollups, focusing on how key…
With the proliferation of new blockchain-based cryptocurrencies/assets and platforms that make it possible to transact across them, it becomes important to consider not just whether the transfer of coins/assets can be tracked within their…
Around three quarters of Bitcoin transactions take place off-chain. Despite their significance, the vast majority of the empirical literature on cryptocurrencies focuses on on-chain transactions. This paper presents one of the first…
The regulatory framework of cryptocurrencies (and, in general, blockchain tokens) is of paramount importance. This framework drives nearly all key decisions in the respective business areas. In this work, a computational model is proposed…
Blockchain and distributed ledger technologies are gaining the interest of the academy, companies, and institutions. Nonetheless, the path toward blockchain adoption is not straightforward, as blockchain is a complex technology that…
We study methods to enhance statistical privacy in blockchain transactions. We analyze economic mechanisms for privacy-aware transaction owners whose utility depends not only on the outcome of the mechanism but also negatively on the…
This dissertation addresses the challenge of ensuring transactional integrity and reducing costs in corporate governance through blockchain technology. We propose an on-chain methodology for certifying, registering, and querying…
We study the following problem that is motivated by Blockchains where ``miners'' are serially given the monopoly for assembling transactions into the next block. Our model has a single good that is sold repeatedly every day where new demand…
In an economy with asymmetric information, the smart contract in the blockchain protocol mitigates uncertainty. Since, as a new trading platform, the blockchain triggers segmentation of market and differentiation of agents in both the sell…
To address the large amount of energy wasted by blockchains, we propose a decentralized consensus protocol for blockchains in which the computation can be used to search for good approximate solutions to any optimization problem. Our…
Mechanisms for decentralized finance on blockchains suffer from various problems, including suboptimal price execution for users, latency, and a worse user experience compared to their centralized counterparts. Recently, off-chain…
Game theory is often used as a tool to analyze decentralized systems and their properties, in particular, blockchains. In this note, we take the opposite view. We argue that blockchains can and should be used to implement economic…
Mining blocks in a blockchain using the \textit{Proof-of-Work} consensus protocol involves significant risk, as network participants face continuous operational costs while earning infrequent capital gains upon successfully mining a block.…