Related papers: Becoming Immutable: How Ethereum is Made
Process (or workflow) execution on blockchain suffers from limited scalability; specifically, costs in the form of transactions fees are a major limitation for employing traditional public blockchain platforms in practice. Research, so far,…
Blockchain is a decentralized, distributed ledger technology that ensures transparency, security, and immutability through cryptographic techniques. However, advancements in quantum computing threaten the security of classical cryptographic…
Nowadays, huge amounts of data are generated every second, and a quantity of that data can be defined as sensitive. Blockchain technology has private, secure, transparent and decentralized exchange of data as native. It is adaptable and can…
Ethereum is currently the second largest blockchain by market capitalization and a popular platform for cryptocurrencies. As it has grown, the high value present and the anonymity afforded by the technology have led Ethereum to become a…
Liquid staking has become the largest category of decentralized finance protocols in terms of total value locked. However, few studies exist on its implementation designs or underlying risks. The liquid staking protocols allow for earning…
Blockchain is a decentralized ledger used to securely exchange digital currency, perform deals and transactions efficient manner, each user of the network has access to the least copy of the encrypted ledger so that they can validate a new…
Decentralized Ledger Technology, popularized by the Bitcoin network, aims to keep track of a ledger of valid transactions between agents of a virtual economy without a central institution for coordination. In order to keep track of a…
In this paper, we present a pricing mechanism that aligns incentives of agents who exchange resources on a decentralized ledger with the goal of maximizing transaction throughput. Subdividing a blockchain ledger into shards promises to…
In this paper we show that, using only mild assumptions, previously proposed multidimensional blockchain fee markets are essentially optimal, even against worst-case adversaries. In particular, we show that the average welfare gap between…
Blockchain platforms such as Ethereum and several others execute complex transactions in blocks through user-defined scripts known as smart contracts. To append a correct block into blockchain, miners execute these transactions of smart…
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…
Layer-2 (L2) blockchains inherit Ethereums security guarantees while reducing gas fees. As a result, they are gaining traction among traders at Automated Market Makers (AMMs), sparking debate over whether they contribute to liquidity…
Blockchain technology has become one of the most popular trends in IT over the last few years. Its increasing popularity and the discovery of ever more use cases raises the question of how to improve scalability. While researchers are…
Traditional blockchain design gives miners or validators full control over transaction ordering, i.e., they can freely choose which transactions to include or exclude, as well as in which order. While not an issue initially, the emergence…
Half a decade after Bitcoin became the first widely used cryptocurrency, blockchains are receiving considerable interest from industry and the research community. Modern blockchains feature services such as name registration and smart…
In blockchain, bribery is an inevitable problem since users with various goals can bribe miners by transferring cryptoassets. To alleviate the negative effects of such collusion, Ethereum blockchain implemented new transaction fee mechanism…
Block production on the Ethereum blockchain has adopted an auction-based mechanism known as Proposer--Builder Separation (PBS), where validators outsource block creation to builders competing in MEV--Boost auctions for Maximal Extractable…
Blockchains are being positioned as the "technology of trust" that can be used to mediate transactions between non-trusting parties without the need for a central authority. They support transaction types that are native to the blockchain…
Many blockchains such as Ethereum execute all incoming transactions sequentially significantly limiting the potential throughput. A common approach to scale execution is parallel execution engines that fully utilize modern multi-core…
I study a repeated auction in which payments are made with a blockchain token created and initially owned by the auction designer. Unlike the ``virtual money'' previously examined in mechanism design, such tokens can be saved and traded…