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Multi-party data management and blockchain systems require data sharing among participants. To provide resilient and consistent data sharing, transactions engines rely on Byzantine FaultTolerant consensus (BFT), which enables operations…
Permissionless Proof-of-Stake (PoS) economic security is predicated on the high cost of violating consensus safety or liveness. We show that liquid staking introduces additional risks that are not captured by standard PoS economic security…
Modern blockchains increasingly adopt multi-proposer (MCP) consensus to remove single-leader bottlenecks and improve censorship resistance. However, MCP alone does not resolve how users should disseminate transactions to proposers. Today,…
Currently, over 90% of Ethereum blocks are built using MEV-Boost, an auction that allows validators to sell their block-building power to builders who compete in an open English auction in each slot. Shortly after the merge, when MEV-Boost…
We present the first formal treatment of \emph{yield tokenization}, a mechanism that decomposes yield-bearing assets into principal and yield components to facilitate risk transfer and price discovery in decentralized finance (DeFi). We…
Decentralized Exchanges (DEXs) are pivotal applications in the Decentralized Finance (DeFi) landscape, aiming to facilitate trustless cryptocurrency trading by relying on smart contracts and blockchain networks. The developments in the DEXs…
Decentralized finance (DeFi) is known for its unique mechanism design, which applies smart contracts to facilitate peer-to-peer transactions. The decentralized bank is a typical DeFi application. Ideally, a decentralized bank should be…
Consensus mechanism is the core technology for blockchain to ensure that transactions are executed in sequence. It also determines the decentralization, security, and efficiency of blockchain. Existing mechanisms all have certain…
In recent years, blockchain technology has introduced decentralized finance (DeFi) as an alternative to traditional financial systems. DeFi aims to create a transparent and efficient financial ecosystem using smart contracts and emerging…
The evolution of cryptocurrency and decentralized finance (DeFi) marks a significant shift in the financial landscape, making it more accessible, inclusive, and participative for various societal groups. However, this transition from…
The crypto ecosystem has evolved into a formidable channel for raising venture capital. Each new wave of capital inflows has been epitomized by a new type of investment vehicle, may it be ICOs, DAOs, or NFTs. Regrettably, none of these…
DeFi applications are vulnerable to MEV, where specialized actors profit by reordering or inserting transactions. To mitigate latency races and internalize MEV revenue, Arbitrum introduced Timeboost, an auction-based transaction sequencing…
Technological advancement drives financial innovation, reshaping the traditional finance landscape and redefining user-market interactions. The rise of blockchain and Decentralized Finance (DeFi) underscores this intertwined evolution of…
Proof of work (PoW), the most popular consensus mechanism for Blockchain, requires ridiculously large amounts of energy but without any useful outcome beyond determining accounting rights among miners. To tackle the drawback of PoW, we…
Modern public blockchains like Ethereum rely on p2p networks to run distributed and censorship-resistant applications. With its wide adoption, it operates as a highly critical public ledger. On its transition to become more scalable and…
Decentralised cloud computing platforms enable individuals to offer and rent resources in a peer-to-peer fashion. They must assign resources from multiple sellers to multiple buyers and derive prices that match the interests and capacities…
The paper examines decentralized cryptocurrency protocols that are based on the use of internal tokens as identity tools. An analysis of security problems with popular Proof-of-stake consensus protocols is provided. A new protocol,…
The advent of smart contracts has enabled the rapid rise of Decentralized Finance (DeFi) on the Ethereum blockchain, offering substantial rewards in financial innovation and inclusivity. This growth, however, is accompanied by significant…
Public key infrastructures (PKIs) are one of the main building blocks for securing communications over the Internet. Currently, PKIs are under the control of centralized authorities, which is problematic as evidenced by numerous incidents…
The use of blockchains for automated and adversarial trading has become commonplace. However, due to the transparent nature of blockchains, an adversary is able to observe any pending, not-yet-mined transactions, along with their execution…