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The state-of-the-art approach to manage blockchains is to process blocks of transactions in a shared-nothing environment. Although blockchains have the potential to provide various services for high-performance computing (HPC) systems, HPC…
This paper examines bid requirements, where the government may cancel a procurement contract unless two or more bids are received. Using a first-price auction model with endogenous entry, we compare the bid requirement and reserve price…
The Ethereum blockchain as a decentralized platform is so successful that many applications deployed on it. However, for the inherent transparency properties and the lack of privacy, deploying a financial application on top of it is always…
One of the main bottlenecks of blockchains is smart contract execution. To increase throughput, modern blockchains try to execute transactions in parallel. Unfortunately, however, common blockchain use cases introduce read-write conflicts…
Payment channel is a protocol which allows cryptocurrency users to route multiple transactions through network without committing them to the main blockchain network (mainnet). This ability makes them the most prominent solution to…
Automated market makers (AMMs) quote prices from pool state rather than from a limit order book. AMM pools often stay close to a reference price because arbitrageurs correct profitable mispricing. A large part of decentralized finance…
While quantitative automation related to trading crypto-assets such as ERC-20 tokens has become relatively commonplace, with services such as 3Commas and Shrimpy offering user-friendly web-driven services for even the average crypto trader,…
In blockchain-based order book systems, buyers and sellers trade assets, while it is miners to match them and include their transactions in the blockchain. It is found that many miners behave selfishly and myopically, prioritizing…
Order book imbalance (OBI) - buy orders minus sell orders near the best quote - measures supply-demand imbalance that can move prices. OBI is positively correlated with returns, and some investors try to use it to improve performance. Large…
In cryptocurrencies, transaction fees are typically exclusively paid in the native platform currency. This restriction causes a wide range of challenges, such as deteriorated user experience, mandatory rent payments by decentralized…
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 studies to what extent the cost of operating a proof-of-work blockchain is intrinsically linked to the cost of preventing attacks, and to what extent the underlying digital ledger security budgets are correlated with the…
Hyperledger Fabric is a popular open-source project for deploying permissioned blockchains. Many performance characteristics of the latest Hyperledger Fabric, such as performance characteristics of each phase, the impacts of ordering…
With the rapid growth of hyperconnected devices and decentralized data architectures, safeguarding Internet of Things (IoT) transactions is becoming increasingly challenging. Blockchain presents a promising solution, yet its effectiveness…
Threshold cryptography is essential for many blockchain protocols. For example, many protocols rely on threshold common coin to implement asynchronous consensus, leader elections, and provide support for randomized applications. Similarly,…
Smart contracts enable users to execute payments depending on complex program logic. Ethereum is the most notable example of a blockchain that supports smart contracts leveraged for countless applications including games, auctions and…
We design TimeBoost: a practical transaction ordering policy for rollup sequencers that takes into account both transaction timestamps and bids; it works by creating a score from timestamps and bids, and orders transactions based on this…
Recently, the blockchain technique was put in the spotlight as it introduced a systematic approach for multiple parties to reach consensus without needing trust. However, the application of this technique in practice is severely restricted…
The design of permissioned blockchains places an access control requirement for members to read, access, and write information over the blockchains. In this paper, we study a hierarchical scenario to include three types of participants:…
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…