Related papers: FairDAG: Consensus Fairness over Multi-Proposer Ca…
This paper presents a novel adversary model specifically tailored to distributed systems, aiming to assess the security of blockchain networks. Building upon concepts such as adversarial assumptions, goals, and capabilities, our proposed…
The blockchain brought interesting properties for many practical applications. However, some properties, such as the transaction processing throughput remained limited, especially in Proof-of-Work blockchains. Therefore, several promising…
We propose a novel consensus protocol based on a hybrid approach, that combines a directed acyclic graph (DAG) and a classical chain of blocks. This architecture allows us to enforce collective block construction, minimising the…
Blockchains, and specifically smart contracts, have promised to create fair and transparent trading ecosystems. Unfortunately, we show that this promise has not been met. We document and quantify the widespread and rising deployment of…
Financial institutions are currently looking into technologies for permissioned blockchains. A major effort in this direction is Hyperledger, an open source project hosted by the Linux Foundation and backed by a consortium of over a hundred…
Blockchains revolutionized centralized sectors like banking and finance by promoting decentralization and transparency. In a blockchain, information is transmitted through transactions issued by participants or applications. Miners…
We study blockchain trade-intent auctions, which currently intermediate about USD 10 billion in trades each month. These auctions are combinatorial because executing multiple trade intents jointly generates additional efficiencies. However,…
Sharding is a prominent technique for scaling blockchains. By dividing the network into smaller components known as shards, a sharded blockchain can process transactions in parallel without introducing inconsistencies through the…
Many cryptocurrency platforms are vulnerable to Maximal Extractable Value (MEV) attacks, where a malicious consensus leader can inject transactions or change the order of user transactions to maximize its profit. A promising line of…
Given the parallels between game theory and consensus, it makes sense to intelligently design blockchain or DAG protocols with an incentive-compatible-first mentality. To that end, we propose a new blockchain or DAG protocol enhancement…
We present parallel proof-of-work with DAG-style voting, a novel proof-of-work cryptocurrency protocol that, compared to Bitcoin, provides better consistency guarantees, higher transaction throughput, lower transaction confirmation latency,…
Recent research in consensus has often focussed on protocols for State-Machine-Replication (SMR) that can handle high throughputs. Such state-of-the-art protocols (generally DAG-based) induce undue overhead when the needed throughput is…
Blockchain security is threatened by selfish mining, where a miner (operator) deviates from the protocol to increase their revenue. Selfish mining is exacerbated by adverse conditions: rushing (network propagation advantage for the selfish…
This paper investigates how pricing schemes can achieve efficient allocations in blockchain systems featuring multiple transaction queues under a global capacity constraint. I model a capacity-constrained blockchain where users submit…
To maximize performance, many modern blockchain systems rely on eventually-synchronous, Byzantine fault-tolerant (BFT) consensus protocols. Two protocol designs have emerged in this space: protocols that minimize latency using a leader that…
We present Areon, a family of latency-friendly, stake-weighted, multi-proposer proof-of-stake consensus protocols. By allowing multiple proposers per slot and organizing blocks into a directed acyclic graph (DAG), Areon achieves robustness…
Blockchains use consensus protocols to reach agreement, e.g., on the ordering of transactions. DAG-based consensus protocols are increasingly adopted by blockchain companies to reduce energy consumption and enhance security. These protocols…
Directed Acyclic Graph (DAG) is a popular approach to achieve scalability of blockchain networks. Due to its high efficiency in data communication and great scalability, DAG has been widely adopted in many applications such as Internet of…
We analyze maximal extractable value in multiple concurrent proposer blockchains, where multiple blocks become data available before their final execution order is determined. This concurrency breaks the single builder assumption of…
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…