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Blockchains have attracted a great deal of attention as a technology for the distributed management of register information at multiple nodes without a centralized system. However, they possess the drawbacks of low transaction throughput…
Ethereum is a distributed blockchain that can execute smart contracts, which inter-communicate and perform transactions automatically. The execution of smart contracts is paid in the form of gas, which is a monetary unit used in the…
The MEV-Boost block auction contributes approximately 90% of all Ethereum blocks. Between October 2023 and March 2024, only three builders produced 80% of them, highlighting the concentration of power within the block builder market. To…
We consider the impact of trading fees on the profits of arbitrageurs trading against an automated market maker (AMM) or, equivalently, on the adverse selection incurred by liquidity providers (LPs) due to arbitrage. We extend the model of…
Smart contracts are increasingly used in critical use cases (e.g., financial transactions). Thus, it is pertinent to ensure that end-users understand the transfer risks in smart contracts. To address this, we investigate end-user…
A smart contract that is deployed to a blockchain system like Ethereum is, under reasonable circumstances, expected to be immutable and tamper-proof. This is both a feature (promoting integrity and transparency) and a bug (preventing…
As 6G networks evolve, inter-provider agreements become crucial for dynamic resource sharing and network slicing across multiple domains, requiring on-demand capacity provisioning while enabling trustworthy interaction among diverse…
The immutability of smart contracts on blockchain platforms like Ethereum promotes security and trustworthiness but presents challenges for updates, bug fixes, or adding new features post-deployment. These limitations can lead to…
Ethereum clients execute transactions in a sequential order prescribed by the consensus protocol. This is a safe and conservative approach to blockchain transaction processing which forgoes running transactions in parallel even when doing…
Transaction fee markets are essential components of blockchain economies, as they resolve the inherent scarcity in the number of transactions that can be added to each block. In early blockchain protocols, this scarcity was resolved through…
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…
Modern cryptocurrency systems, such as Ethereum, permit complex financial transactions through scripts called smart contracts. These smart contracts are executed many, many times, always without real concurrency. First, all smart contracts…
Motivated by applications where impatience is pervasive and evaluation times are uncertain, we study a selection model where options may expire at an unknown point in time and evaluation times are stochastic. Initially, the decision-maker…
With the promise of greater decentralization and sustainability, Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism. The new consensus protocol introduces novel vulnerabilities that warrant…
Smart contracts are full-fledged programs that run on blockchains (e.g., Ethereum, one of the most popular blockchains). In Ethereum, gas (in Ether, a cryptographic currency like Bitcoin) is the execution fee compensating the computing…
The occurrence of bubbles in pipeline parallelism is an inherent limitation that can account for more than 40% of the large language model (LLM) training time and is one of the main reasons for the underutilization of GPU resources in LLM…
The year 2024 witnessed a major development in the cryptocurrency industry with the long-awaited approval of spot Bitcoin exchange-traded funds (ETFs). This innovation provides investors with a new, regulated path to gain exposure to…
Ethereum has emerged as a leading platform for decentralized applications (dApps) due to its robust smart contract capabilities. One of the critical issues in the Ethereum ecosystem is Maximal Extractable Value (MEV), a concept that has…
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…
Smart contracts, known for their immutable nature to ensure trust via automated enforcement, have evolved to require upgradeability due to unforeseen vulnerabilities and the need for feature enhancements post-deployment. This contradiction…