Related papers: SAMM: Sharded Automated Market Maker
In a decentralized environment, exchanging resources requires users to bargain until an agreement is found. Moreover, human agreements involve a combination of collaborative and selfish behavior and often induce circularity, complicating…
When blockchain systems are said to be trustless, what this really means is that all the trust is put into software. Thus, there are strong incentives to ensure blockchain software is correct -- vulnerabilities here cost millions and break…
Sharding has shown great potential to scale out blockchains. It divides nodes into smaller groups which allow for partial transaction processing, relaying and storage. Hence, instead of running one blockchain, we will run multiple…
The popularity of cryptocurrencies has grown significantly in recent years, and they have become an important asset for internet trading. One of the main drawbacks of cryptocurrencies is the high volatility and fluctuation in value. The…
Traditional public blockchain systems typically had very limited transaction throughput because of the bottleneck of the consensus protocol itself. With recent advances in consensus technology, the performance limit has been greatly lifted,…
Constant Function Market Makers (CFMMs) are a family of automated market makers that enable censorship-resistant decentralized exchange on public blockchains. Arbitrage trades have been shown to align the prices reported by CFMMs with those…
Blockchain platforms such as Ethereum and several others execute complex transactions in blocks through user-defined scripts known as smart contracts. To append a correct block into blockchain, miners execute these transactions of smart…
The large public interest in Advanced Air Mobility (AAM) will soon lead to congested skies overhead cities, analogously to what happened with other transportation means, including commercial aviation. In the latter case, the combination of…
Inspired by Bitcoin, many different kinds of cryptocurrencies based on blockchain technology have turned up on the market. Due to the special structure of the blockchain, it has been deemed impossible to directly trade between traditional…
With the emergence of decentralized finance, new trading mechanisms called Automated Market Makers have appeared. The most popular Automated Market Makers are Constant Function Market Makers. They have been studied both theoretically and…
Blockchain-based distributed computing platforms enable the trusted execution of computation - defined in the form of smart contracts - without trusted agents. Smart contracts are envisioned to have a variety of applications, ranging from…
In this paper, we outline a framework for modeling utility-based blockchain-enabled economic systems using Agent Based Modeling (ABM). Our approach is to model the supply dynamics based on metrics of the cryptoeconomy. We then build…
SPEEDEX is a decentralized exchange (DEX) that lets participants securely trade assets without giving any single party undue control over the market. SPEEDEX offers several advantages over prior DEXes. It achieves high throughput -- over…
Recent works of Roughgarden (EC'21) and Chung and Shi (SODA'23) initiate the study of a new decentralized mechanism design problem called transaction fee mechanism design (TFM). Unlike the classical mechanism design literature, in the…
This paper demonstrates that Automated Market Maker (AMM) based markets, such as those using constant product formulas (e.g., Uniswap), are inherently path-dependent. We prove mathematically that the sequence of operations in AMMs…
This paper introduces Capability-Priced Micro-Markets (CPMM), a micro-economic framework designed to enable robust, scalable, and secure commerce among autonomous AI agents on the agentic web. The framework addresses the fundamental…
Public blockchains have spurred the growing popularity of decentralized transactions and smart contracts, but they exhibit limitations on the transaction throughput, storage, and computation. To avoid transaction gridlock, public…
Today's blockchains suffer from low throughput and high latency, which impedes their widespread adoption of more complex applications like smart contracts. In this paper, we propose a novel paradigm for smart contract execution. It…
Sharding is used to address the performance and scalability issues of the blockchain protocols, which divides the overall transaction processing costs among multiple clusters of nodes. Shards require less storage capacity and communication…
Modern blockchain systems support creation of smart contracts -- stateful programs hosted and executed on a blockchain. Smart contracts hold and transfer significant amounts of digital currency which makes them an attractive target for…