Related papers: Transaction Fee Market Design for Parallel Executi…
Ethereum Improvement Proposal (EIP) 1559 was recently implemented to transform Ethereum's transaction fee market. EIP-1559 utilizes an algorithmic update rule with a constant learning rate to estimate a base fee. The base fee reflects…
The development of blockchain technologies has enabled the trustless execution of so-called smart contracts, i.e. programs that regulate the exchange of assets (e.g., cryptocurrency) between users. In a decentralized blockchain, the state…
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…
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…
Ethereum is a distributed blockchain that can execute smart contracts, which inter-communicate and perform transactions automatically. The execution of smart contracts is paid in the form of gas, which is a monetary unit used in the…
While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure…
Modern cryptocurrency systems, such as Ethereum, permit complex financial transactions through scripts called smart contracts. These smart contracts are executed many, many times, always without real concurrency. First, all smart contracts…
We initiate the study of transaction fee mechanism design for blockchain protocols in which multiple block producers contribute to the production of each block. Our contributions include: - We propose an extensive-form (multi-stage) game…
In the context of decentralized blockchains, accurately simulating the outcome of order flow auctions (OFAs) off-chain is challenging due to adversarial sequencing, encrypted bids, and frequent state changes. Existing approaches, such as…
Byzantine Fault Tolerant (BFT) consensus forms the foundation of many modern blockchains striving for both high throughput and low latency. A growing bottleneck is transaction execution and validation on the critical path of consensus,…
We study a mechanism design problem in the blockchain proof-of-stake (PoS) protocol. Our main objective is to extend the transaction fee mechanism (TFM) recently proposed in Chung and Shi (SODA, p.3856-3899, 2023), so as to incorporate a…
Executing smart contracts is a compute and storage-intensive task, which currently dominates modern blockchain's performance. Given that computers are becoming increasingly multicore, concurrency is an attractive approach to improve…
Ethereum's transaction pool (mempool) dynamics and fee market efficiency critically affect transaction inclusion, validator workload, and overall network performance. This research empirically analyzes gas price variations, mempool…
As 6G networks evolve, inter-provider agreements become crucial for dynamic resource sharing and network slicing across multiple domains, requiring on-demand capacity provisioning while enabling trustworthy interaction among diverse…
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 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…
The Ethereum blockchain has a \emph{gas system} that associates operations with a cost in gas units. Two central concepts of this system are the \emph{gas limit} assigned by the issuer of a transaction and the \emph{gas used} by a…
Conthereum is a concurrent Ethereum solution for intra-block parallel transaction execution, enabling validators to utilize multi-core infrastructure and transform the sequential execution model of Ethereum into a parallel one. This shift…
Following the design of more efficient blockchain consensus algorithms, the execution layer has emerged as the new performance bottleneck of blockchains, especially under high contention. Current parallel execution frameworks either rely on…
Machine learning is critical for innovation and efficiency in financial markets, offering predictive models and data-driven decision-making. However, challenges such as missing data, lack of transparency, untimely updates, insecurity, and…