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The security of blockchain systems is fundamentally based on the decentralized consensus in which the majority of parties behave honestly, and the content verification process is essential to maintaining the robustness of blockchain…
Cryptoeconomic systems derive their power but can not be controlled by the underlying software systems and the rules they enshrine. This adds a level of complexity to the software design process. At the same time, such systems, when…
Lending protocols are one of the main applications of Decentralized Finance (DeFi), enabling crypto-assets loan markets with a total value estimated in the tens of billions of dollars. Unlike traditional lending systems, these protocols…
To predict the next token, autoregressive models ordinarily examine the past. Could they also benefit from also examining hypothetical futures? We consider a novel Transformer-based autoregressive architecture that estimates the next-token…
We consider in this paper some structured financial products, known as reverse convertible notes, that resulted in substantial losses to certain buyers of these notes in recent years. We shall focus on specific reverse convertible notes…
Consensus algorithms facilitate agreement on and resolution of blockchain functions, such as smart contracts and transactions. Ethereum uses a Proof-of-Stake (PoS) consensus mechanism, which depends on financial incentives to ensure that…
As machine learning models are increasingly being employed to make consequential decisions in real-world settings, it becomes critical to ensure that individuals who are adversely impacted (e.g., loan denied) by the predictions of these…
The rapid development of Artificial IntelligenceGenerated Content (AIGC) has brought daunting challenges regarding service latency, security, and trustworthiness. Recently, researchers presented the edge AIGC paradigm, effectively optimize…
We propose a new Proof-of-Stake consensus protocol constructed with a verifiable random function (VRF) and a verifiable delay function (VDF) that has the following properties: a) all addresses with positive stake can participate; b) is fair…
This study develops an inverse portfolio optimization framework for recovering latent investor preferences including risk aversion, transaction cost sensitivity, and ESG orientation from observed portfolio allocations. Using controlled…
Quantum computing poses fundamental risks to classical blockchain systems by undermining widely used cryptographic primitives. In response, two major research directions have emerged: post-quantum blockchains, which integrate…
The past decade has witnessed the flourishing of a new profession as media content creators, who rely on revenue streams from online content recommendation platforms. The reward mechanism employed by these platforms creates a competitive…
In pursuit of participatory budgeting (PB) outcomes with broader fairness guarantees, we initiate the study of lotteries over discrete PB outcomes. As the projects have heterogeneous costs, the amount spent may not be equal ex ante and ex…
Participatory Budgeting (PB) has evolved into a key democratic instrument for resource allocation in cities. Enabled by digital platforms, cities now have the opportunity to let citizens directly propose and vote on urban projects, using…
Today's blockchain landscape is severely fragmented as more and more heterogeneous blockchain platforms have been developed in recent years. These blockchain platforms are not able to interact with each other or with the outside world since…
In this paper, we present a novel fraud-proof mechanism that achieves fast finality and, when combined with optimistic execution, enables real-time transaction processing. State-of-the-art optimistic rollups typically adopt a 7-day…
A blockchain and smart contract enabled security mechanism for IoT applications has been reported recently for urban, financial, and network services. However, due to the power-intensive and a low-throughput consensus mechanism in existing…
Game theory is often used as a tool to analyze decentralized systems and their properties, in particular, blockchains. In this note, we take the opposite view. We argue that blockchains can and should be used to implement economic…
Existing NFTs confront restrictions of \textit{one-time incentive} and \textit{product isolation}. Creators cannot obtain benefits once having sold their NFT products due to the lack of relationships across different NFTs, which results in…
A blockchain faces two fundamental challenges. It must motivate users to maintain the system while preventing a minority of these users from colluding and gaining disproportionate control. Many popular public blockchains use monetary…