Related papers: 3-Slot-Finality Protocol for Ethereum
Transaction fee markets are essential components of blockchain economies, as they resolve the inherent scarcity in the number of transactions that can be added to each block. In early blockchain protocols, this scarcity was resolved through…
As a key enabler of Web3, Ethereum has long faced scalability challenges. The recent EIP-4844 upgrade aims to alleviate the scalability issue by introducing the ''blob'', a new data structure for Layer-2 rollups that enables off-chain…
This paper examines the impact of reducing Ethereum slot time on decentralized exchange activity, with a focus on CEX-DEX arbitrage behavior. We develop a trading model where the agent's DEX transaction is not guaranteed to land, and the…
Blockchain enables peer-to-peer transactions in cyberspace without a trusted third party. The rapid growth of Ethereum and smart contract blockchains generally calls for well-designed Transaction Fee Mechanisms (TFMs) to allocate limited…
Blockchains are meant to be persistent: posted transactions are immutable and cannot be changed. When a theft takes place, there are limited options for reversing the disputed transaction, and this has led to significant losses in the…
Blockchain offers a decentralized, immutable, transparent system of records. It offers a peer-to-peer network of nodes with no centralised governing entity making it unhackable and therefore, more secure than the traditional paper-based or…
As transaction fees skyrocket today, blockchains become increasingly expensive, hurting their adoption in broader applications. This work tackles the saving of transaction fees for economic blockchain applications. The key insight is that…
We propose a model suggesting that honest-but-rational consensus participants may play timing games, and strategically delay their block proposal to optimize MEV capture, while still ensuring the proposal's timely inclusion in the canonical…
In this paper we show that, using only mild assumptions, previously proposed multidimensional blockchain fee markets are essentially optimal, even against worst-case adversaries. In particular, we show that the average welfare gap between…
A large number of consensus algorithms have been proposed. However, the requirement of strict consistency limits their wide adoption, especially in high-performance required systems. In this paper, we propose a weak consensus algorithm that…
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…
Validators in permissionless, large-scale blockchains, such as Ethereum, are typically payoff-maximizing, rational actors. Ethereum relies on in-protocol incentives, like rewards for correct and timely votes, to induce honest behavior and…
The Ethereum platform allows developers to implement and deploy applications called Dapps onto the blockchain for public use through the use of smart contracts. To execute code within a smart contract, a paid transaction must be issued…
As decentralized applications on permissionless blockchains are prevalent, more and more latency-sensitive usage scenarios emerged, where the lower the latency of sending and receiving messages, the better the chance of earning revenue. To…
Distributed ledgers are common in the industry. Some of them can use blockchains as their underlying infrastructure. A blockchain requires participants to agree on its contents. This can be achieved via a consensus protocol, and several BFT…
Consensus protocols are currently the bottlenecks that prevent blockchain systems from scaling. However, we argue that transaction execution is also important to the performance and security of blockchains. In other words, there are ample…
The emerging blockchain protocols provide a decentralized architecture that is suitable of supporting Internet of Things (IoT) interactions. However, keeping a local copy of the blockchain ledger is infeasible for low-power and…
Modern blockchains support a variety of distributed applications beyond cryptocurrencies, including smart contracts -- which let users execute arbitrary code in a distributed and decentralized fashion. Regardless of their intended…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…
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…