Related papers: Becoming Immutable: How Ethereum is Made
We argue that the machine learning value chain is structurally unsustainable due to an economic data processing inequality: each state in the data cycle from inputs to model weights to synthetic outputs refines technical signal but strips…
Ethereum block builders run sealed auctions among searchers, but nothing in the protocol forces a builder to honor the auction outcome after observing submitted bundles. This paper studies the commitment problem. We model a builder who…
Computational task offloading based on edge computing can deal with the performance bottleneck of traditional cloud-based systems for Internet of things (IoT). To further optimize computing efficiency and resource allocation, collaborative…
Blockchain technology, beyond cryptocurrencies, is called to be the new information exchange ecosystem due to its unique properties, such as immutability and transparency. The main objective of this work is to introduce the design of a…
The non-fungible token (NFT) is an emergent type of cryptocurrency that has garnered extensive attention since its inception. The uniqueness, indivisibility and humanistic value of NFTs are the key characteristics that distinguish them from…
The Internet of Things (IoT) is transforming our physical world into a complex and dynamic system of connected devices on an unprecedented scale. Connecting everyday physical objects is creating new business models, improving processes and…
Blockchains are meant to be persistent: posted transactions are immutable and cannot be changed. When a theft takes place, there are limited options for reversing the disputed transaction, and this has led to significant losses in the…
The registration, transfer, clearing and settlement of equities represents a significant part of economic activity currently underserved by modern technological innovation. In addition, recent events have revealed problems of transparency,…
Committee-based blockchains are among the most popular alternatives of proof-of-work based blockchains, such as Bitcoin. They provide strong consistency (no fork) under classical assumptions, and avoid using energy-consuming mechanisms to…
In blockchains such as Bitcoin and Ethereum, transactions represent the primary mechanism that the external world can use to trigger a change of blockchain state. Transactions serve as key sources of evidence and play a vital role in…
Transactive energy plays a key role in the operation and energy management of future power systems. However, the conventional operational mechanism, which follows a centralized design, is often less secure, vulnerable to malicious…
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…
It is widely accepted that Ethereum mining is highly centralized. Nonetheless, centralization has been mostly characterized by exclusively looking at the influence that independent miners or mining pools can have over the network. Moreover,…
Conventional financial models fail to explain the economic and monetary properties of cryptocurrencies due to the latter's dual nature: their usage as financial assets on the one side and their tight connection to the underlying blockchain…
Blockchain technologies provide excellent architectures and practical tools for securing and managing the sensitive and private data stored in biometric templates, but at a cost. We discuss opportunities and challenges in the integration of…
The ``EIP-1599 algorithm'' is used by the Ethereum blockchain to assemble transactions into blocks. While prior work has studied it under the assumption that bidders are ``impatient'', we analyze it under the assumption that bidders are…
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…
Cryptocurrencies, enabling secure digital asset transfers without a central authority, are experiencing increasing interest. With the increasing number of global and Turkish investors, it is evident that interest in digital assets will…
Blockchain-based cryptocurrencies secure a decentralized consensus protocol by incentives. The protocol participants, called miners, generate (mine) a series of blocks, each containing monetary transactions created by system users. As…
One of the most innovative aspects of blockchain technology consists in the introduction of an incentive layer to regulate the behavior of distributed protocols. The designer of a blockchain system faces therefore issues that are akin to…